The Nel ASA share is facing an exciting week on the stock market: Will the shares of the Norwegian hydrogen specialist succeed in carrying over the momentum from last week? After a rather modest start to the month, the Nel share has recently risen from 1.69 euros to 1.80 euros within a single week on the stock exchange. On Friday alone, it went up another four percent. The confidence of investors was probably based on a new agreement.
Nel ASA with new framework agreement
That’s because Nel Hydrogen Electrolyser, a division of Nel ASA, has signed a framework agreement with “leading gas handling solutions manufacturer Howden for the supply of hydrogen compressors for Nel electrolysers,” according to a statement Friday. The collaboration centers on the development of cost-effective hydrogen compressor systems for Nel’s electrolysers, it said. With their help, the company aims to reduce the cost of producing green hydrogen to $1.50 per kilogram.
Should investors sell immediately? Or is it worth getting in on Nel ASA after all?
“The collaboration with Howden enables us to optimize our offerings for existing and future customers,” Jon André Løkke, CEO of Nel, is quoted as saying in the release. Commenting on the new agreement, Ross Shuster, CEO of Howden, said, “We are very pleased to enter into this agreement with Nel as it illustrates the successes already achieved in integrating Howden’s hydrogen compression solution into Nel’s electrolysers.”
Nel shares bounce back
Nel ASA’s shares also appear to be back on track, with papers up 6.5 percent for the week at the close of trading in Frankfurt on Friday. This also roughly corresponds to the premium from last month. Since the beginning of the year, however, Nel ASA, after a real price fireworks 2020, still lost about a third of its stock market value.
Buy, hold or sell – your Nel ASA analysis of 28.06. provides the answer:
How will Nel ASA develop further now? Is your money safe in this stock? Find out the answers to these questions and why you need to act now in the latest analysis on the Nel ASA share.
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