At the beginning of the year, there was almost unstoppable hype on the stock markets when it came to hydrogen. Numerous investors dreamed that this could be the next market worth billions, if not trillions, and saw huge opportunities for Nel ASA, among others.
At times, the actual fundamental data of the company were completely forgotten. No one seemed to be bothered by the fact that so far the company has been burning money and that this is unlikely to change in the near future. Now that the mood has cooled down considerably, this is causing more problems for the shareholders.
Patience is essential
Only recently, the U.S. bank JP Morgan drew attention to the current situation at Nel ASA in a new study. The company will probably be in the red again this year, and the experts do not expect anything to change before 2023.
The analysts dealt another blow to the Nel ASA share with a sell recommendation and an approximate halving of the previous price target. The already heavily depressed mood among investors thus received the next damper, and this does not appear to be a short-term bend.
With the Nel ASA share it goes further downward
On Friday, the Nel ASA share really went downhill as a result of the latest analyst comments. Those who hoped for a quick recovery in the new week were bitterly disappointed on Monday. The Nel ASA share preferred a continuation of the downward movement and rattled by unsightly 4.29 percent further in the direction of the south.
At only 1.61 euros, the title stood at the close of trading and flirted during the day already with the mark at 1.55 euros. The gains since November have thus finally come to an end, and if the bulls are unable to mount a countermovement soon, it could very quickly head towards the 52-week low at 1.34 euros.