Time to Sell Nordex? Analysts Turn Bullish on SFC Energy and dynaCERT!

dynaCERT: Cleantech Stock on the Verge of a Breakthrough?

Is dynaCERT's stock at the beginning of a revaluation? GBC Research believes this is possible. The analysts point to progress in Asia, Mexico, and Europe, where the technology is already being tested or deployed in various applications. The stock of the Canadian company with German top management has surged this year, rising from EUR 0.06 to EUR 0.089. From GBC Research's perspective, however, significantly higher returns are still possible. They expect dynaCERT shares to rise to EUR 0.48.

This outlook is driven by progress in the international marketing of HydraGEN™ technology, which enables existing diesel engines to operate more efficiently and with lower emissions. The demand for solutions to reduce diesel consumption is growing, particularly in countries like Vietnam and Thailand. Both countries are suffering massively from rising energy costs and a strained power supply due to the closure of the Strait of Hormuz. There, dynaCERT technology could provide relief within a few months.

This is because HydraGEN™ technology is based on retrofittable modules that use electrolysis to generate small amounts of hydrogen and oxygen from water and feed them into the combustion process of diesel engines. This is intended to optimize combustion while simultaneously reducing fuel consumption and CO₂ emissions. The solution can be used in heavy-duty transport, mining, the construction industry, and stationary power generators, among other applications. After years of successful pilot projects but limited commercial success, the company is now focusing more on scaling up and sales. The new German management team, led by CEO Kevin Unrath and President Bernd Krüper, brings extensive industry experience from companies such as MAN Truck & Bus and Rolls-Royce Power Systems and is driving international expansion.

dynaCERT appears to be making significant progress, particularly in Vietnam. The company recently announced collaborations with government agencies, universities, and industry partners, as well as ongoing pilot projects in key logistics hubs. This could position Vietnam as a strategic bridgehead for expansion across Southeast Asia.

SFC Energy: Rally Continues After Forecast Increase

SFC Energy has performed strongly this year. The fuel cell specialist's stock has gained around 70% so far this year. In the past four weeks alone, it has risen by over 30%. Yet in 2025, the stock was still among the disappointments.

Most recently, SFC announced the largest order in the company's history. As part of a German government initiative, the company will supply fuel cell and hybrid energy supply systems to Ukraine. The order volume is approximately EUR 42.7 million and is expected to be fully recognized in revenue and earnings in fiscal year 2026. The systems will utilize off-grid hybrid solutions combining fuel cells and batteries—already tested under real-world conditions—designed to support both military and civilian applications. Among other things, the systems will provide mobile power for communication, reconnaissance, and navigation systems, as well as for charging the batteries of unmanned systems such as drones.

Due to the major contract, SFC Energy has raised its forecast for the 2026 fiscal year. The Management Board now expects consolidated revenue of between EUR 163 million and EUR 175 million. The previous forecast was EUR 150-160 million. For adjusted EBITDA, the company no longer expects EUR 20-24 million, but rather EUR 29-34 million.

Analysts responded to the positive developments at SFC by raising their price targets. At Warburg Research, the fair value of the stock rose from EUR 20 to EUR 28. Berenberg raised the price target from EUR 18 to EUR 24. Analysts at the Hamburg-based private bank consider the new forecast too conservative. First Berlin is particularly bullish. The analysts now expect SFC's stock to rise to EUR 31.

Yesterday, the stock traded above EUR 22. This means it has almost returned to the level seen in July 2025, when the market was shocked by a profit warning.

Nordex: End of the Uptrend?

While dynaCERT is facing a potential revaluation, Nordex has impressively completed one in recent years. However, at least from a technical analysis perspective, things are slowly getting dicey for the wind turbine manufacturer. The stock has been climbing steeply since February 2025. At that time, the stock was trading at EUR 11. In early May 2026, it briefly surpassed EUR 50. Nordex shares are currently trading at around EUR 44. This threatens to end the upward trend that has been in place since December 2025. RBC has added fuel to the fire with its "Sell" recommendation. From the analysts' perspective, the company is overvalued with a current market capitalization of around EUR 10.4 billion. They see the fair value of the stock at EUR 38.

However, it is still too early to write it off. This is because Nordex is fighting back against a potential downward spiral with new order announcements. Earlier this week, Westfälisch-Niedersächsische Energie GmbH & Co. KG ordered twelve N175/6.X wind turbines. The turbines, with a hub height of 179 m, are to be installed in three wind farm projects in North Rhine-Westphalia. The total capacity of the turbines is 82 MW. In addition to delivery and installation, the order includes a premium service contract with a 20-year term. The turbines are distributed across the Dringenberg project (7 turbines), the Gehrden Ost project (3 turbines), and the Gehrden Fölsen expansion project (2 turbines). Construction is scheduled to begin in mid-2027.

Cleantech stocks are staging a spectacular comeback. dynaCERT shares have already gained momentum this year. What the company needs now are major contracts. If those materialize, the stock could multiply in value. The major order from Ukraine was a real game-changer for SFC Energy. However, shareholders should not forget that the company has disappointed in the past when it comes to operational execution. Nordex has had a fantastic run. However, competition remains intense, and the industry itself is highly cyclical — something investors should keep in mind.