Why NEL stock moves
Nel ASA rose clearly, against a falling market.
Written after the close on ·
Why today
16,413 news analyzed todayNel ASA rose clearly, against a falling market.
Only one item of company news fell in that session, and it does not explain the move.
Over the last five trading days NEL edged up slightly while the index fell sharply, and its trading volume was around normal.
The likely drivers are the stock's own moves rather than any announced event; the next earnings report is Friday 19 February 2027.
Today's move of +2.27% was 1.9 times a normal day's 1.2%. Oslo Børs benchmark index moved −1.31% on the same day.
NEL +2.27%
What analysts expect, and how often they have been right
Analysts’ estimates for NEL.
NEL earned more than expected in 3 out of 8 reports.
For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.
The share moved in the same direction as the earnings surprise in 6 out of 8 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 1.98 NOK
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expectedNOK
Next reported quarter: expected earnings per share of -0.05 NOK (February 19). For the current fiscal year, expected earnings per share changed from -0.32 NOK three months ago to -0.32 NOK now. 2026 estimate: -0.32 NOK. 2027 estimate: -0.22 NOK. One analyst made the estimate for the quarter.
Has the share price followed the business?
Price and earnings moved in the same direction: 1 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed −17% and earnings per share went from -0.15 NOK to -0.70 NOK.
Revenue, profit and market cap
RevenueProfitMarket capHatched bars: analysts’ estimates.bn NOK
Assets, liabilities and market cap
AssetsLiabilitiesMarket capbn NOK
Price and earnings moved in the same direction: 1 out of 3 years.Market cap (Now): 3.6 bn NOKRevenue 2025: 963 m NOK
What the key figures say about NEL
The figures connect what NEL earns with what investors pay.
The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.
Profit divided by the number of shares. Each share represents this much of the earnings.
2022–2025: -0.76 NOK–-0.15 NOK. Peers: Nederman Holding 6.39 SEK, Xano Industri 1.77 SEK, Alimak Group 5.33 SEK. 2026 estimate: -0.32 NOK (-0.36 NOK–-0.30 NOK). 2027 estimate: -0.22 NOK (-0.29 NOK–-0.11 NOK).
What the company sold during the year.
2022–2025: 915 m NOK–1.4 bn NOK. Peers: Nederman Holding 5.5 bn SEK, Xano Industri 3.3 bn SEK, Alimak Group 6.9 bn SEK. 2026 estimate: 811 m NOK (734 m NOK–907 m NOK). 2027 estimate: 1.4 bn NOK (961 m NOK–1.7 bn NOK).
The percentage of revenue left after the costs of running the business.
2022–2025: −110.2%–−35.2%. Peers: Nederman Holding 7.5%, Xano Industri 6.2%, Alimak Group 13.7%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: −32.2%–−4.9%. Peers: Nederman Holding 8.6%, Xano Industri 5.5%, Alimak Group 7.6%.
What investors pay for each unit the company sells.
2022–2025: 3.25–23.67. Peers: Nederman Holding 0.90, Xano Industri 0.75, Alimak Group 1.84. 2026 estimate: 4.50. 2027 estimate: 2.68.
More key figures
Market cap divided by shareholders’ equity, what remains after liabilities.
2022–2025: 0.91–3.97. Peers: Nederman Holding 1.84, Xano Industri 1.27, Alimak Group 1.64.
Cash left after investments, divided by the number of shares.
2022–2025: -0.84 NOK–-0.30 NOK. Peers: Nederman Holding 5.38 SEK, Xano Industri 3.49 SEK, Alimak Group 6.26 SEK.
The percentage of assets financed by shareholders’ equity.
2022–2025: 78.4%–79.3%.
What to watch next, and why
The earnings report shows how NEL's revenue and profit have changed.
- Earnings report
The earnings report shows how NEL's revenue and profit have changed.
Add to calendar
Earnings report
Next report: · Add to calendar · Google Calendar
On its last 15 report days NEL usually moved about 6.2%. On a normal day it moves 1.2%.
−6.70% +1.84% −12.70% +1.38%
10,000 NOK in NEL bought on November 7, 2016 is worth 9,290 NOK today, with dividends reinvested.
The same amount in OSEBX with dividends would have become 32,400 NOK.
What would 10,000 NOK in NEL be worth today? →
What would 10,000 NOK in NEL be worth today?
9,290 NOK
with dividends reinvested, bought on November 7, 2016. The same amount in OSEBX with dividends would have become 32,400 NOK.
At worst it was worth 7,810 NOK (June 12, 2017).
The five biggest days of the journey
· +48.6% · the whole market fell 0.3% the same day
· +34.5% · the whole market fell 0.3% the same day
· +29.6% · the whole market rose 0.6% the same day
· −25.6% · the whole market was unchanged the same day
· +21.3% · the whole market fell 0.3% the same day · report day
Earlier days
+1.95% Nel ASA rose slightly over the week, moving against a sharply weaker Oslo Børs. Read →
Nel ASA rose slightly over the week, moving against a sharply weaker Oslo Børs.
The main news was a company update on a 1 GW plant at Herøya, while losses highlighted the gap to commercial output.
Shares also gained on an order-book surge despite a steep revenue fall, though no event explains the move clearly.
Oslo's industrials stocks fell about 1.1% over the same days, so Nel held up better than its peers.
−0.61% Nel ASA fell slightly, on an ordinary day. Read →
Nel ASA fell slightly, on an ordinary day.
Oslo's benchmark index fell sharply over the same days, so Nel moved much less than the market.
Over the last five trading days the shares were roughly unchanged.
The day's trading was well below its usual level.
No company news explains the move.
+2.20% NEL rose clearly without company news explaining it. Read →
NEL rose clearly without company news explaining it.
Over the same days the Oslo Børs benchmark was roughly flat, so NEL moved on its own.
Over the last five trading days NEL was roughly unchanged, while the market fell clearly, so NEL held up better.
Its latest close sits near the lowest level of the past year, well below its late-May high.
No company news from that session explains the move, and the stock traded at its usual volume.
−1.04% NEL ASA moved slightly lower on an ordinary day for the stock. Read →
NEL ASA moved slightly lower on an ordinary day for the stock.
No company news explains it.
Oslo Børs fell clearly over the same days, so NEL moved more than the market.
Over the last five trading days NEL also fell slightly.
Likely drivers are general sector weakness, since its industrial peers fell slightly too, and the stock being near its one-year low.
+0.20% Nel was roughly unchanged, while the market rose clearly. Read →
Nel was roughly unchanged, while the market rose clearly.
Nel's shares barely moved in the last session, though the Oslo Børs index rose clearly, so Nel lagged the market.
A $12 million order for PEM electrolyzers, the devices that split water into hydrogen and oxygen, came out in the last session, but it did not clearly explain a move that was ordinary for the stock.
Over the last five trading days Nel fell clearly while the market was roughly flat, likely reflecting weak results and the CEO change.
The next earnings report is due on 19 February 2027.
−3.83% NEL fell clearly over the last five trading days while the wider market was roughly flat. Read →
NEL fell clearly over the last five trading days while the wider market was roughly flat.
The likely main driver was the appointment of Morten Holum, head of Hexagon Purus, as new chief executive, announced on Wednesday, with the current CEO leaving.
Trading in the shares was well below its usual level, and the move was ordinary in size for the stock.
Investors also weighed the latest quarterly results, which missed expectations, and mixed news about a possible defence-linked fuel project with Rheinmetall.
−3.32% Nel fell sharply, more than the Oslo market, after a CEO change. Read →
Nel fell sharply, more than the Oslo market, after a CEO change.
Nel's board named Morten Holum, head of Hexagon Purus, as its new chief executive, news that came out after trading had ended.
The market also fell sharply that day, so Nel's drop was partly a market move.
Over the last five trading days, Nel fell slightly while the Oslo market was roughly flat.
Likely drivers include the weak quarterly results released last week, with earnings below expectations and a large net loss.
+0.25% Nel was roughly unchanged last session, with no company news behind it. Read →
Nel was roughly unchanged last session, with no company news behind it.
The market fell clearly that day, so Nel held up better than Oslo Børs.
Over the last five trading days, Nel fell clearly while the market was roughly flat.
The weekly drop likely followed the third-quarter report, which missed expectations.
Trading was about twice a normal session, so the stock saw heavy activity.
−3.15% Nel fell clearly, while the Oslo market was roughly flat. Read →
Nel fell clearly, while the Oslo market was roughly flat.
Over the last five trading days, Nel was roughly unchanged while the broader market rose clearly.
Last week the company reported third-quarter results that missed expectations, with revenue down sharply and a wider loss.
Order intake, however, jumped strongly.
Learn more · Why do stocks go up and down?