NEL ASA (NLLSF) was Downgraded to a Sell Rating at J.P. Morgan

By Jason Carr

NEL ASA (NLLSFResearch Report) received a Sell rating and a NOK15.00 price target from J.P. Morgan analyst Patrick Jones on July 15. The company’s shares closed last Friday at $2.00, close to its 52-week low of $1.59.

According to TipRanks.com, Jones is ranked #6393 out of 7586 analysts.

Currently, the analyst consensus on NEL ASA is a Moderate Buy with an average price target of $3.14.

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NEL ASA’s market cap is currently $2.91B and has a P/E ratio of 39.50. The company has a Price to Book ratio of 5.07.

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NEL ASA is a hydrogen company delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. It serves industries, energy and gas companies with hydrogen technology. The company’s hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. Its products include hydrogen electrolyser and among others. Geographically activities are functioned through the region of Norway.