At Nordex, the positive news situation continues. On Monday, the wind turbine manufacturer was able to announce a major order in Argentina for 38 turbines of the new Delta4000 series with a total output of 166 megawatts, followed by the next deal on Tuesday. Nordex will be building the “Mortlake South” wind farm in southeastern Australia for its customer Acciona Energy Australia. For this purpose, 35 turbines of the Delta4000 series with an output of 157.7 megawatts will be installed.
This means that the strong order momentum will continue unabated. At the end of the year, the order backlog for wind turbines was already EUR 3.9 billion, and numerous new orders have been received since then. The new turbines from the Delta4000 product range are particularly popular with customers.
On the stock market, this development was not without consequences. Investors have abandoned their restraint and started a brilliant upward rally after the turn of the year. In the meantime, the share price has risen to 15.25 euros, which is equivalent to a new 2-year high. Since the beginning of the year, the increase in value has amounted to 100.92 percent, which corresponds to a doubling of the share price. The stock is thus clearly the best performer in the TecDAX and the SDAX.
The correction is still to come
The dynamics speak for the value, but the high price gains certainly tempt profit taking. In addition, there is the overbought market phase, which becomes apparent when looking at the technical market indicators. A technical correction is actually overdue. The US investment bank Goldman Sachs, which has confirmed its “buy” recommendation for Nordex stock in a recent industry study, is providing tailwind.
A post by Alexander Hirschler.