Nel ASA Benefits from Major Order: Nel ASA Shares Decline After Strong Rally – Insider Purchase Draws Attention

Oslo (Norway) - The shares of Norwegian hydrogen company Nel ASA fell sharply last Friday. By early afternoon, the stock was trading around €0.20, down more than 6 percent. This means the share gave back part of its recent gains after having risen within just a few days from just above €0.18 to over €0.22.

Analysts interpret the movement mainly as technical profit-taking following the strong upward run, combined with general investor caution. There are currently no fundamental reasons apparent for the decline.

A positive signal, however, came from an insider purchase: Nel board member Hans Hide, Chief Project Officer Electrolyser, bought 10,000 shares of the company on November 6 at an average price of 2.44 Norwegian kroner per share. After this purchase, he holds 40,000 shares and 600,000 options. Market observers view the move as a sign of confidence from management.

In addition, at the beginning of last week, Nel ASA announced a major contract worth more than USD 50 million. The deal is a firm order for PEM electrolysis systems for Norway’s HyFuel and Kaupanes Hydrogen projects. It is the second-largest single order in the company’s history and the largest to date in the PEM segment.

Despite the positive news, investors remain cautious, not least due to the persistently high volatility and uncertain market outlook.

Source: IWR Online, 11 Nov 2025