Latest news for NEL (OTC:NLLSF) Stock

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. The company's segments include Fueling and Electroiyser. It generates maximum revenue from the Electroiyser segment. Electrolyser segment produces electrolysers for hydrogen production and Fueling produces hydrogen fueling stations for cars, buses, trucks, and other on-road vehicles.

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Management

Exclusives

Tech

Interview

NKLA

NLLSF

PLUG

Alternative fuel truck developer Nikola Corp. (NASDAQ: NKLA) is on a wild ride. 

Nikola CEO Mark Russell On Hydrogen Truck Vision: &#39;This Is About Saving The Planet&#39;

NEL ASA

WISA

WiSA Technologies Stockholders Approve Acquisition Of Data Vault Assets Valued At $266M-$501M; Deal Includes 40M Shares And $10M Note, Transforming Into Datavault Inc. With Blockchain, AI, And Web 3.0 Solutions Across Multiple Industries

WIIM

New Fortress Energy shares are trading higher after Stifel maintained a Buy rating and raised its price target from $16 to $17.

iHeartMedia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IHRT#NASDAQ">IHRT</a>) ("iHeartMedia" or the "Company") today announced the successful completion of its previously announced comprehensive exchange transactions of iHeartCommunications, Inc.'s ("iHeartCommunications") outstanding 6.375% Senior Secured Notes due 2026 (the "2026 Secured Notes"), 5.25% Senior Secured Notes due 2027 (the "2027 Secured Notes"), 4.75% Senior Secured Notes due 2028 (the "2028 Secured Notes"), 8.375% Senior Notes due 2027 (the "Unsecured Notes") and senior secured term loans due 2026 (the "Existing Term Loans") (collectively, the "Existing Debt") for new 9.125% Senior Secured First Lien Notes due 2029, 7.750% Senior Secured First Lien Notes due 2030, 7.000% Senior Secured First Lien Notes due 2031, 10.875% Senior Secured Second Lien Notes due 2030 and senior secured first lien term loans due 2029, respectively, in each case issued by iHeartCommunications (collectively, the "Exchange Offers").
Approximately $4.8 billion (or 92.2%) of the aggregate principal amount of the Existing Debt participated in the Exchange Offers, which expired at 9:00 a.m., New York City time, on December 18, 2024 (the "Expiration Time").

IHRT

iHeartMedia Completes Debt Exchange Offers, Reduces Debt by $440M, Extends Maturities by 3 Years, $4.8B (92.2%) of Existing Debt Participated, Strengthens Capital Structure with New Senior Secured Notes and Loans Due 2029-2031

<a href="https://www.bloomberg.com/news/articles/2024-12-23/metlife-is-said-to-near-deal-to-buy-hk-tycoon-li-s-pinebridge?embedded-checkout=true" title="https://www.bloomberg.com/news/articles/2024-12-23/metlife-is-said-to-near-deal-to-buy-hk-tycoon-li-s-pinebridge?embedded-checkout=true">https://www.bloomberg.com/news/articles/2024-12-23/metlife-is-said-to-near-deal-to-buy-hk-tycoon-li-s-pinebridge?embedded-checkout=true</a>

MetLife Nearing $1.4B Deal To Acquire PineBridge Excluding China Assets; Announcement Expected Monday, Valuing $100B AUM Outside China At $1.3B-$1.4B

Sky Harbour Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKYH#NYSE">SKYH</a>, SKYH WS))) (&quot;SHG&quot; or the &quot;Company&quot;), an aviation infrastructure company building the first nationwide network of Home-Basing campuses for business aircraft, announced it has completed the second closing of its previously announced equity raise. The Company issued an additional 3,955,790 PIPE shares of its Class A Common Stock in connection with the exercise of all the rights to purchase additional shares provided to PIPE investors who participated in the first closing for net proceeds of approximately $37.6 million, at a sale price of $9.50 per share. Aggregate proceeds from both closings were approximately $75.2 million, representing the full capacity of the equity raise.

SKYH

Sky Harbour Completes Second Closing Of Equity Raise, Issuing 3.96M PIPE Shares At $9.50 Each For $37.6M; Total Proceeds From Both Closings Reach $75.2M

Elon Musk&#8217;s artificial intelligence company, xAI, is testing a standalone Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iOS app&nbsp;for its chatbot, Grok.
Grok was now available only to users of Musk-owned X (formerly Twitter Inc).
The app can access real-time data from the web and X and offers generative AI features like rewriting text&nbsp;and generating images&nbsp;<a target="_blank" href="https://apps.apple.com/au/app/grok/id6670324846" rel="noreferrer noopener">from text prompts</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/12/42613368/broadcom-expects-decade-long-ai-chip-boom-as-big-tech-invest-billions" rel="noreferrer noopener">Broadcom Expects Decade-Long AI Chip Boom as Big Tech Invest Billions</a>
xAI is also preparing a site, Grok.com, to make the chatbot accessible on the web, TechCrunch <a target="_blank" href="https://techcrunch.com/2024/12/22/xai-is-testing-a-standalone-ios-app-for-its-grok-chatbot/" rel="noreferrer noopener">reports</a>.
Grok was previously available only to X&#8217;s paying subscribers. In November, the company&nbsp;started testing a free chatbot version and rolled it out to&nbsp;all users earlier this month.
The company&#8217;s chatbot image generator model allows users to create images using pictures of public figures and copyrighted material.
xAI has reportedly reached a <a target="_blank" href="https://www.benzinga.com/startups/24/11/42235738/in-just-16-months-elon-musk-achieved-with-xai-what-took-openai-nearly-nine-years-to-accomplish" rel="noreferrer noopener">$50 billion valuation</a> just 16 months after its July 2023 founding, surpassing the billionaire&#8217;s spending on acquiring Twitter.
OpenAI, one of the most recognized names in artificial intelligence, took over nine years to reach its current valuation of $157 billion.
Reportedly, xAI is rapidly gaining momentum in the competitive AI market, now valued higher than rivals like Anthropic, worth $19 billion, and Perplexity, valued at $2.8 billion.
xAI achieved significant milestones by securing $5 billion in its latest funding round to acquire 100,000 Nvidia chips.
These chips will drive the Memphis supercomputer, a facility built to advance the company&#8217;s AI capabilities and bolster Tesla&#8217;s Full Self-Driving (FSD) technology.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/12/42561240/salesforces-ai-powered-agentforce-20-spurs-analyst-upgrades-and-growth-optimism" target="_blank" rel="noreferrer noopener">Wall Street Analysts Are Bullish On Salesforce&#8217;s AI Vision &#8211; Here&#8217;s Why</a></li>
</ul>
Photo courtesy: Shutterstock

Media

AAPL

AMZN

MSFT

NVDA

Elon Musk's xAI To Expand With New Chatbot App

Fly-E Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYE#NASDAQ">FLYE</a>) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, electric scooters, and related accessories, today announced that its flagship e-bike model, the Fly-11 PRO, has been officially selected by the New York City Department of Transportation ("NYC DOT") as the official e-bike for the E-Bike Trade-In Program (the "Program"). NYC DOT expects to distribute approximately 400 e-bikes during the pilot period.

FLYE

Fly-E Group Selected As The Official E-Bike Provider For NYC DOT's Trade-In Program

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) show strong fundamentals, but the trader community remains hesitant about their potential to outperform <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42535162/hyperliquid-emerges-as-ethereum-solana-rival-heres-how-high-hype-could-go">other trending cryptocurrencies</a>.
What Happened: Shibburn data shows 6.02 million SHIB tokens burned in the past 24 hours, driving the burn rate up by 661.7%. 
Key transactions included burns of 3.5 million and 2.3 million SHIB, signaling increased on-chain activity.
Shibarium&#8217;s December 2024 update <a href="https://x.com/Shibizens/status/1870792229461074044">highlights</a> the network undergoing a mainnet upgrade.
Among the milestones achieved, it crossed 688 million transactions, peaked to all time high in new total value locked and a maintained 4 million daily transactions volume.
The recent integration with Chainlink is expected to enhance cross-chain functionality, boost on-chain activity and accelerate SHIB burns.
On the Dogecoin front, crypto analyst Ali Martinez highlighted historical patterns where DOGE experienced parabolic rallies after significant retracements. 
For example, DOGE surged thousands of percent following pullbacks in 2017 and 2021. 
In 2024, after a 440% rally and 46% retracement, another explosive move <a href="https://x.com/ali_charts/status/1871097660888813871">could</a> be on the horizon.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42626582/dogecoin-shiba-inu-absent-from-2024s-top-performing-meme-coins-heres-who-made-the-cut">Dogecoin, Shiba Inu Absent From 2024&#8217;s Top-Performing Meme Coins: Here&#8217;s Who Made The Cut</a>
Trader Notes: Altcoin Sherpa sees meme coins performing well but doubts their ability to outperform other crypto assets in the latter half of the market cycle. 
While Dogecoin's brand recognition and Elon Musk's involvement make it unique, Sherpa argues that smaller-cap meme tokens like Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) might outpace larger-cap memes.
He also <a href="https://x.com/AltcoinSherpa/status/1870504266781302822">suggests</a> big-cap meme coins will likely remain dependent on broader market movements, with a significant rally in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) potentially lifting memes.
Sherpa concluded that while recognizable tokens like Shiba Inu, Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>), and Dogwifhat will perform decently, they're unlikely to outperform top utility tokens like Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), Hyperliquid (CRYPTO: HYPE) and Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>), or trending crypto sectors such as AI-driven projects.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42514226/shiba-inu-burn-rate-surges-3609-as-dogecoin-whales-move-5-8-billion-doge-what-is-going-on">Shiba Inu Burn Rate Surges 3,609% As Dogecoin Whales Move 5.8 Billion DOGE: What Is Going On?</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$AAVE

$DOGE

$ENA

$ETH

$FLOKI

$PEPE

$SHIB

$WIF

Dogecoin, Shiba Inu Could Underperform Stronger Cryptos, Trader Warns: Here's Why

AILE

iLearningEngines Voluntarily Files For Chapter 11 Bankruptcy, Seeks Court Approval To Continue Operations And Support Customers; Plans To Maintain Employee Wages And Vendor Payments During Proceedings

Earnings

Optical Cable Q4 EPS $0.05 Up From $(0.17) YoY, Sales $19.48M Up From $17.33M YoY

Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) ("Psyence Biomed" or the "Company") today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 1,000,000 common shares (or pre-funded warrant in lieu thereof), series A common warrants to purchase up to 1,000,000 common shares and short-term series B common warrants to purchase up to 1,000,000 common shares at a purchase price of $2.00 per common share (or per pre-funded warrant in lieu thereof) and accompanying series A common warrant and short-term series B common warrant in a private placement. The series A common warrants and short-term series B common warrants will have an exercise price of $2.00 per share and will be exercisable immediately upon issuance. The series A common warrants will expire five years from the date of issuance and the short-term series B common warrants will expire two years from the date of issuance. The private placement is expected to close on or about December 24, 2024, subject to the satisfaction of customary closing conditions.
H.C. Wainwright &amp; Co. is acting as the exclusive placement agent for the offering.
The gross proceeds from the offering are expected to be approximately $2.0 million, prior to deducting placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

Offerings

Psyence Biomed Announces $2M Private Placement

Expecting 20% YOY Net Revenue Growth in early 2025, on Track for Ongoing Profitability by April 2025
Toronto, Canada--(Newsfile Corp. - December 23, 2024) - Pineapple Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAPL#NYSE">PAPL</a>), a leading Canadian mortgage and insurance fintech, today reported its audited financial results for the fiscal year ended August 31, 2024. The company achieved a 7.5% increase in net revenue year-over-year, driven by growth in its subscription services and strong mortgage sales. Early reporting indicated Pineapple is expecting to experience a strong start to fiscal year 2025, with significant growth across key metrics, including 13.3% YOY volume growth, 13.9% YOY gross billing growth, and 20.8% YOY net revenue growth from September through November. These results reflect both the company's effective growth initiatives and a shifting market sentiment. With these strong figures and a clear path forward, Pineapple is on track to achieve ongoing profitability by April 2025.

Guidance

PAPL

Pineapple Financial Achieved Net Revenue Of $2.69M In FY24, Marking A 7.5% Increase Compared To $2.50M In Fiscal Year 2023; Expecting 20% YOY Net Revenue Growth In Early 2025, On Track For Ongoing Profitability By April 2025

FORD

Forward Industries' Largest Design Customer Terminates Patch Pump Program, Ending 25% Of FY 2024 Revenue; Company Expects Significant Revenue Drop In Q2 FY 2025 And Implements Cost-Cutting Measures, Including Workforce Reduction

LUCD

Lucid Diagnostics Granted 180-Day Extension By Nasdaq To Regain Compliance With $1 Minimum Bid Price Rule, Deadline Set For June 16, 2025

Sigma Lithium Corporation (NASDAQ:<a href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>, BVMF: S2GM34)) ("Sigma Lithium"&nbsp;or the "Company"), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon-neutral, socially and environmentally sustainable lithium concentrate, is pleased to announce that it is currently loading 22,650 tonnes of its Quintuple Zero Green Lithium for shipment from the Port of Vitoria to IRH Global Trading LTD in Abu Dhabi (IRH), reflecting the Company's continued operational excellence.
Sigma Lithium has achieved a consistent monthly delivery schedule for large-scale shipments, having successfully met its target of producing Quintuple Zero Green Lithium at an annual rate of 270,000 tonnes. The execution of two large shipments within a short timeframe this quarter is a testament to the exceptional work of the Company's operational, commercial and logistics teams. The provisional price (6% Li2O, CIF China) for this shipment is set at 8.25% of the battery-grade lithium carbonate price quoted on the Guangzhou Futures Exchange (GFEX) as of the shipment date.

SGML

Sigma Lithium Announces Shipment This Week Of 22,650tonnes Of Quintuple Zero Green Lithium To Abu Dhabi's IRH

HCWB

HCW Biologics Receives Nasdaq Delisting Notice For Non-Compliance With MVLS Rule; Plans To Appeal And Request Hearing Following December 16 Deadline Missed For $50M Market Value Requirement

Jared Kushner, son-in-law of former President&nbsp;Donald Trump, has made it clear that he is not involved in Trump&#8217;s political endeavors. This statement comes amid ongoing scrutiny over his business dealings and political connections.
What Happened: Kushner, who is married to Trump&#8217;s daughter Ivanka, emphasized his detachment from Trump&#8217;s political activities during a podcast interview on Friday. During a podcast episode with &#8220;The Best with Patrick O'Shaughnessy,&#8221; he said he informed investors in February about raising additional capital, ensuring them that his role would remain unchanged regardless of Trump&#8217;s political future.
Kushner stated, &#8220;I&nbsp;made very clear to them&nbsp;that in the event that&nbsp;Trump was elected, that they&nbsp;should not expect anything from&nbsp;me.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The secret service affectionately called <a href="https://twitter.com/jaredkushner?ref_src=twsrc%5Etfw">@jaredkushner</a> "the Mechanic" because he was constantly fixing problems behind the scenes. That's the theme of our convo: &#8211; Affinity Partners &#8211; real estate &amp; business &#8211; government &#8211; the next 4 years &#8211; more Enjoy! <a href="https://t.co/V9YeuNrxG4">pic.twitter.com/V9YeuNrxG4</a>
&mdash; Patrick OShaughnessy (@patrick_oshag) <a href="https://twitter.com/patrick_oshag/status/1870097179253072202?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42594797/trump-wants-to-get-rid-of-the-debt-ceiling-30-year-treasury-bonds-fall-to-2024-lows-stocks-cut-gains?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Would &#8216;Lead The Charge&#8217; To Scrap Debt Ceiling: 30-Year Treasury Bonds Slide To 2024 Lows, Stocks Cut Gains</a>
Kushner&#8217;s investment firm, Affinity Partners, has secured commitments from significant investors, including the Saudi Public Investment Fund and the Qatar Investment Authority, since 2021. He highlighted that these commitments were made when Trump&#8217;s political future was still uncertain. Kushner, who played a pivotal role in the Abraham Accords, founded Affinity after serving as a senior White House adviser. He assured that the firm has proactively avoided conflicts, eliminating the need to raise capital for the next four years.
Kushner and Affinity Partners have yet to respond to <a href="https://pro.benzinga.com">Benzinga</a>&#8216;s queries.
Why It Matters: Kushner&#8217;s distancing from Trump&#8217;s political sphere is noteworthy given his previous involvement in political fundraising activities. In May, Kushner was reportedly r<a href="https://www.benzinga.com/news/24/05/38750997/trumps-son-in-law-back-in-political-arena-jared-kushner-reportedly-making-calls-to-potential-donors">eaching out to donors</a> to support Trump&#8217;s 2024 campaign. This shift in stance comes amid scrutiny over Affinity Partners&#8217; foreign investments, which have raised concerns about potential conflicts of interest. 
In September, Senate Finance Committee Chair Sen. Ron Wyden (D-Ore.) <a href="https://www.benzinga.com/government/24/09/41043869/trump-son-in-laws-pe-firms-client-agreement-creates-unprecedented-conflicts-of-interest-involving-pr">questioned the firm&#8217;s dealings </a>with foreign investors, including the Saudi Arabian sovereign wealth fund. Wyden&#8217;s letter highlighted the firm&#8217;s collection of $157 million in management fees from foreign investors without generating returns, suggesting possible compensation schemes involving U.S. political figures. 
Kushner&#8217;s distancing from <a href="https://www.benzinga.com/real-estate/24/11/41898236/the-kushners-real-estate-empire-now-surpasses-trumps-heres-how-it-grew-from-1-8-billion-to-7-1-billion-since-2016">Trump&#8217;s political activities</a> may be an effort to mitigate these concerns and focus on his business ventures, which have seen significant growth. As of November, the Kushner family&#8217;s real estate empire has expanded from $1.8 billion to $7.1 billion since 2016.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/12/42635765/mary-trumps-warning-donald-trumps-second-term-already-is-more-dangerous-than-the-first?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump Issues Stark Warning On Donald Trump's Return To Power: &#8216;His Second Term Already Is More Dangerous Than the First&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

General

Jared Kushner Distances Himself From Father In Law's Political Influence: 'In The Event That Trump Was Elected...They Should Not Expect Anything From Me'

Loop Capital analyst Yun Kim maintains Klaviyo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) with a Buy and raises the price target from $45 to $60.

Price Target

Analyst Ratings

KVYO

Loop Capital Maintains Buy on Klaviyo, Raises Price Target to $60

Damon Enters Securities Purchase Agreement With Streeterville Capital; Agreement Includes Pre-Paid Purchases Up To $10M

Further Strengthens and Scales Communications Technologies Platform; Significant Installed Base and Attractive Pipeline of Growth Opportunities
CHARLOTTE, N.C., Dec. 23, 2024 (GLOBE NEWSWIRE) -- SPX Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXC#NYSE">SPXC</a>) announced today that it has entered into a definitive agreement to purchase Kranze Technology Solutions, Inc. ("KTS"), a leader in digital interoperability and tactical networking solutions. Upon closing, KTS will become a part of SPX Technologies' Communication Technologies ("CommTech") platform, within its Detection &amp; Measurement segment.
Headquartered in Des Plaines, Illinois, KTS has developed a strong reputation for advanced digital interoperability and tactical networking solutions which integrate and distribute real-time information across multiple communications domains and platforms to enhance situational awareness, coordination, and tactical execution during operations. KTS has built trusted relationships with customers, particularly with the US Marine Corps, equipping KTS' products on numerous marquee platforms.
Under the terms of the agreement, SPX Technologies will purchase KTS and certain significant tax attributes for approximately $350 million in cash. KTS is anticipated to generate revenue of approximately $90 million for the full year 2025, with a segment income margin and revenue growth rate that are both modestly above the Detection &amp; Measurement segment average.

SPXC

SPX Technologies Announces Agreement To Purchase Kranze Technology Solutions And Certain Significant Tax Attributes For ~$350M In Cash

In a report released today, Christopher Leonard from UBS maintained a Sell rating on NEL ASA (NLLSF – Research Report), with a price target of NOK3...

UBS Sticks to Its Sell Rating for NEL ASA (NLLSF)

Berenberg lowered the firm's price target on Nel (NLLSF) to NOK 5.50 from NOK 7 and keeps a Hold rating on the shares. Published first on TheFly – ...

Nel price target lowered to NOK 5.50 from NOK 7 at Berenberg

NEL ASA (NLLSF) has released an update. Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has secured a significant EUR 135 million grant from...

Nel ASA Secures EU Grant for Hydrogen Tech Expansion

Warning: NLLSF is at high risk of performing badly

Jefferies downgraded Nel (NLLSF) to Underperform from Hold with a price target of NOK 3, down from NOK 5.50. While the company's capex is slowing, ...

Nel downgraded to Underperform from Hold at Jefferies

Kepler Cheuvreux re-initiated coverage of Nel (NLLSF) with a Reduce rating and NOK 2.50 price target The firm sees "disproportionate" downside risk...

Nel re-initiated with a Reduce at Kepler Cheuvreux

In a report released today, Erwan Kerouredan from RBC Capital downgraded NEL ASA (NLLSF – Research Report) to a Hold, with a price target of NOK4.0...

NEL ASA (NLLSF) was downgraded to a Hold Rating at RBC Capital

RBC Capital analyst Erwan Kerouredan downgraded Nel (NLLSF) to Sector Perform from Outperform with a price target of NOK 4, down from NOK 12. The f...

Nel downgraded to Sector Perform from Outperform at RBC Capital

Nordea upgraded Nel (NLLSF) to Hold from Sell with a NOK 1.40 price target Published first on TheFly – the ultimate source for real-time, market-mo...

Nel upgraded to Hold from Sell at Nordea

Goldman Sachs analyst Michele Della Vigna downgraded Nel (NLLSF) to Neutral from Buy with a price target of NOK 3, down from NOK 6. The firm says t...

Nel downgraded to Neutral from Buy at Goldman Sachs

Commodities

Contracts

Small Cap

Press Releases

Nel ASA: Receives additional USD 75 million in support for Michigan facility

Nel ASA: Nel and partners receive about USD 90 million in funding from DoE

Nel ASA: Has signed a licensing agreement with Reliance

Nel ASA: A fully dedicated electrolyser company

Nel ASA: Saipem presents solution for large-scale green hydrogen production, utilizing Nel's technology

Nel ASA: Third quarter 2024 financial results

Nel ASA: Awarded EUR 135 million in grants for industrialization of next-generation electrolyser technology in Norway

Nel ASA: Receives another 10 MW purchase order from Samsung C&T

NLLSY

&nbsp;

<h2>Upgrades</h2>

<ul>
	<li>For Emergent BioSolutions Inc (NYSE:<a class="ticker" href="/stock/EBS#NYSE">EBS</a>), Chardan Capital upgraded the previous rating of Neutral to Buy. Emergent BioSolutions earned $3.67 in the fourth quarter, compared to $1.57 in the year-ago quarter. At the moment, the stock has a 52-week-high of $137.61 and a 52-week-low of $46.37. Emergent BioSolutions closed at $93.65 at the end of the last trading period.</li>
	<li>According to Raymond James, the prior rating for Xencor Inc (NASDAQ:<a class="ticker" href="/stock/XNCR#NASDAQ">XNCR</a>) was changed from Market Perform to Outperform. In the fourth quarter, Xencor showed an EPS of $0.24, compared to $0.47 from the year-ago quarter. At the moment, the stock has a 52-week-high of $55.33 and a 52-week-low of $19.35. Xencor closed at $48.35 at the end of the last trading period.</li>
	<li>For Bank of Montreal (NYSE:<a class="ticker" href="/stock/BMO#NYSE">BMO</a>), Credit Suisse upgraded the previous rating of Neutral to Outperform. Bank of Montreal earned $2.35 in the first quarter, compared to $1.86 in the year-ago quarter. The current stock performance of Bank of Montreal shows a 52-week-high of $83.79 and a 52-week-low of $38.31. Moreover, at the end of the last trading period, the closing price was at $83.44.</li>
	<li>Deutsche Bank upgraded the previous rating for McAfee Corp (NASDAQ:<a class="ticker" href="/stock/MCFE#NASDAQ">MCFE</a>) from Hold to Buy. McAfee earned $0.38 in the fourth quarter. At the moment, the stock has a 52-week-high of $22.14 and a 52-week-low of $14.80. McAfee closed at $19.45 at the end of the last trading period.</li>
	<li>According to HSBC, the prior rating for Greencore Group PLC (OTC:<a class="ticker" href="/stock/GNCGY#OTC">GNCGY</a>) was changed from Hold to Buy. The stock has a 52-week-high of $8.35 and a 52-week-low of $4.71. At the end of the last trading period, Greencore Group closed at $7.59.</li>
	<li>For Tomra Systems ASA (OTC:<a class="ticker" href="/stock/TMRAY#OTC">TMRAY</a>), Kepler Cheuvreux upgraded the previous rating of Hold to Buy. The stock has a 52-week-high of $49.05 and a 52-week-low of $20.84. At the end of the last trading period, Tomra Systems closed at $44.27.</li>
	<li>According to Barclays, the prior rating for BNP Paribas (OTC:<a class="ticker" href="/stock/BNPQY#OTC">BNPQY</a>) was changed from Underweight to Equal-Weight. At the moment, the stock has a 52-week-high of $27.85 and a 52-week-low of $13.18. BNP Paribas closed at $30.15 at the end of the last trading period.</li>
	<li>JP Morgan upgraded the previous rating for Credit Agricole SA (OTC:<a class="ticker" href="/stock/CRARY#OTC">CRARY</a>) from Neutral to Overweight. The stock has a 52-week-high of $6.64 and a 52-week-low of $3.15. At the end of the last trading period, Credit Agricole closed at $6.85.</li>
	<li>According to JP Morgan, the prior rating for Enagas SA (OTC:<a class="ticker" href="/stock/ENGGY#OTC">ENGGY</a>) was changed from Underweight to Neutral. The current stock performance of Enagas shows a 52-week-high of $13.20 and a 52-week-low of $9.41. Moreover, at the end of the last trading period, the closing price was at $10.60.</li>
	<li>According to KeyBanc, the prior rating for BigCommerce Holdings Inc (NASDAQ:<a class="ticker" href="/stock/BIGC#NASDAQ">BIGC</a>) was changed from Sector Weight to Overweight. In the fourth quarter, BigCommerce Holdings earned $0.12. The stock has a 52-week-high of $162.50 and a 52-week-low of $53.19. At the end of the last trading period, BigCommerce Holdings closed at $63.33.</li>
</ul>

<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>

&nbsp;

<h2>Downgrades</h2>

<ul>
	<li>For Cooper Tire &amp; Rubber Co (NYSE:<a class="ticker" href="/stock/CTB#NYSE">CTB</a>), Standpoint Research downgraded the previous rating of Buy to Sell. For the fourth quarter, Cooper Tire &amp; Rubber had an EPS of $0.75, compared to year-ago quarter EPS of $1.02. At the moment, the stock has a 52-week-high of $58.19 and a 52-week-low of $13.82. Cooper Tire &amp; Rubber closed at $57.92 at the end of the last trading period.</li>
	<li>According to Berenberg, the prior rating for Kosmos Energy Ltd (NYSE:<a class="ticker" href="/stock/KOS#NYSE">KOS</a>) was changed from Buy to Hold. In the fourth quarter, Kosmos Energy showed an EPS of $0.12, compared to $0.09 from the year-ago quarter. The stock has a 52-week-high of $5.23 and a 52-week-low of $0.50. At the end of the last trading period, Kosmos Energy closed at $2.99.</li>
	<li>According to Piper Sandler, the prior rating for Webster Financial Corp (NYSE:<a class="ticker" href="/stock/WBS#NYSE">WBS</a>) was changed from Overweight to Neutral. Webster Financial earned $0.99 in the fourth quarter, compared to $0.96 in the year-ago quarter. The current stock performance of Webster Financial shows a 52-week-high of $55.41 and a 52-week-low of $18.16. Moreover, at the end of the last trading period, the closing price was at $55.24.</li>
	<li>For United Utilities Group PLC (OTC:<a class="ticker" href="/stock/UUGRY#OTC">UUGRY</a>), Morgan Stanley downgraded the previous rating of Overweight to Equal-Weight. At the moment, the stock has a 52-week-high of $26.30 and a 52-week-low of $17.28. United Utilities Group closed at $25.95 at the end of the last trading period.</li>
	<li>For Natixis SA (OTC:<a class="ticker" href="/stock/NTXFF#OTC">NTXFF</a>), Barclays downgraded the previous rating of Overweight to Equal-Weight. The current stock performance of Natixis shows a 52-week-high of $4.15 and a 52-week-low of $2.05. Moreover, at the end of the last trading period, the closing price was at $4.60.</li>
	<li>Deutsche Bank downgraded the previous rating for InterContinental Hotels Group PLC (NYSE:<a class="ticker" href="/stock/IHG#NYSE">IHG</a>) from Buy to Hold. In the second quarter, InterContinental Hotels earned $0.89. The stock has a 52-week-high of $75.20 and a 52-week-low of $25.39. At the end of the last trading period, InterContinental Hotels closed at $73.94.</li>
	<li>For Systemax Inc (NYSE:<a class="ticker" href="/stock/SYX#NYSE">SYX</a>), William Blair downgraded the previous rating of Outperform to Market Perform. In the fourth quarter, Systemax showed an EPS of $0.42, compared to $0.30 from the year-ago quarter. At the moment, the stock has a 52-week-high of $45.35 and a 52-week-low of $14.00. Systemax closed at $44.58 at the end of the last trading period.</li>
</ul>

<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>

&nbsp;

<h2>Initiations</h2>

<ul>
	<li>Morgan Stanley initiated coverage on Synaptics Inc (NASDAQ:<a class="ticker" href="/stock/SYNA#NASDAQ">SYNA</a>) with an Overweight rating. The price target for Synaptics is set to $173.00. In the second quarter, Synaptics showed an EPS of $2.30, compared to $2.04 from the year-ago quarter. The stock has a 52-week-high of $137.28 and a 52-week-low of $44.41. At the end of the last trading period, Synaptics closed at $130.12.</li>
	<li>Small Cap Consumer Research initiated coverage on Boomer Holdings Inc (OTC:<a class="ticker" href="/stock/BOMH#OTC">BOMH</a>) with a Buy rating. The price target for Boomer Holdings is set to $1.50. The stock has a 52-week-high of $5.01 and a 52-week-low of $0.34. At the end of the last trading period, Boomer Holdings closed at $0.60.</li>
	<li>For NEL ASA (OTC:<a class="ticker" href="/stock/NLLSF#OTC">NLLSF</a>), JP Morgan initiated coverage, by setting the current rating at Neutral. The stock has a 52-week-high of $3.30 and a 52-week-low of $0.78. At the end of the last trading period, NEL closed at $3.04.</li>
	<li>JP Morgan initiated coverage on ITM Power PLC (OTC:<a class="ticker" href="/stock/ITMPF#OTC">ITMPF</a>) with an Overweight rating. The stock has a 52-week-high of $7.25 and a 52-week-low of $1.13. At the end of the last trading period, ITM Power closed at $7.15.</li>
	<li>For Gamesys Group PLC (OTC:<a class="ticker" href="/stock/JKPTF#OTC">JKPTF</a>), Jefferies initiated coverage, by setting the current rating at Buy. The current stock performance of Gamesys Group shows a 52-week-high of $17.07 and a 52-week-low of $9.47. Moreover, at the end of the last trading period, the closing price was at $18.95.</li>
	<li>With an Outperform rating, SVB Leerink initiated coverage on LENSAR Inc (NASDAQ:<a class="ticker" href="/stock/LNSR#NASDAQ">LNSR</a>). The price target seems to have been set at $20.00 for LENSAR. In the third quarter, LENSAR showed an EPS of $0.64, compared to $5.44 from the year-ago quarter. The stock has a 52-week-high of $12.71 and a 52-week-low of $3.16. At the end of the last trading period, LENSAR closed at $9.50.</li>
	<li>Jefferies initiated coverage on 888 Holdings PLC (OTC:<a class="ticker" href="/stock/EIHDF#OTC">EIHDF</a>) with a Buy rating. The current stock performance of 888 Holdings shows a 52-week-high of $4.09 and a 52-week-low of $1.04. Moreover, at the end of the last trading period, the closing price was at $4.08.</li>
	<li>With an Outperform rating, William Blair initiated coverage on Taysha Gene Therapies Inc (NASDAQ:<a class="ticker" href="/stock/TSHA#NASDAQ">TSHA</a>). The price target seems to have been set at $46.00 for Taysha Gene Therapies. Interestingly, in the third quarter, Taysha Gene Therapies&#39;s EPS was $1.28. The current stock performance of Taysha Gene Therapies shows a 52-week-high of $33.35 and a 52-week-low of $18.16. Moreover, at the end of the last trading period, the closing price was at $26.66.</li>
	<li>With an Outperform rating, William Blair initiated coverage on Generation Bio Co (NASDAQ:<a class="ticker" href="/stock/GBIO#NASDAQ">GBIO</a>). The price target seems to have been set at $45.00 for Generation Bio. In the third quarter, Generation Bio showed an EPS of $0.46, compared to $3.31 from the year-ago quarter. The current stock performance of Generation Bio shows a 52-week-high of $55.72 and a 52-week-low of $18.80. Moreover, at the end of the last trading period, the closing price was at $34.48.</li>
</ul>

<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

Upgrades

Downgrades

Initiation

Intraday Update

BDRFF

BIGC

BIOVF

BNPQY

BOMH

CRARY

EIHDF

ENGGY

GBIO

GNCGY

ITMPF

JKPTF

LNSR

MCFE

MTUAY

NTXFF

STZHF

SYNA

TMRAY

TSHA

UUGRY

XNCR

Benzinga's Top Ratings Upgrades, Downgrades For February 24, 2021

JP Morgan analyst Patrick Jones initiates coverage on NEL (OTC:<a class="ticker" href="/stock/NLLSF#OTC">NLLSF</a>) with a Neutral rating.

JP Morgan Initiates Coverage On NEL with Neutral Rating

Alternative fuel truck&nbsp;developer&nbsp;Nikola Corp. (NASDAQ:<a class="ticker" href="/stock/NKLA#NASDAQ">NKLA</a>) is on a wild ride.&nbsp;

After a <a href="https://www.benzinga.com/news/20/03/15468547/fuel-cell-class-8-startup-nikola-going-public-with-3-3-billion-valuation">reverse merger with special purpose acquisition company VectoIQ</a>&nbsp;brought the company&#39;s shares to market June 4, it has witnessed both hype and criticism of hydrogen-powered vehicles.

Benzinga spoke with <a href="https://www.benzinga.com/stock/nkla">Nikola</a> President and CEO Mark Russell this week about the young startup&rsquo;s ambitious hydrogen network plan, foreign markets&nbsp;and his thoughts on the IPO.

The company is focused on a &quot;problem for mankind,&quot; Russell said in the interview: the changing climate.&nbsp;

The company <a href="https://nikolamotor.com/press_releases/nikola-orders-enough-electrolysis-equipment-from-nel-to-produce-40000-kgs-of-hydrogen-per-day-79">has purchased 85-megawatt alkaline electrolyzers</a> from Oslo-based hydrogen company Nel ASA (OTC:<a class="ticker" href="/stock/NLLSF#OTC">NLLSF</a>) to build five fueling stations capable of churning out over 40,000 kgs of hydrogen daily.

This investment will let Nikola begin work on hydrogen fueling stations capable of fueling between 400 to 2,000 trucks per day based on station size.

Benzinga: What makes you confident that you can validate your hydrogen network proposition to convince other players to join the campaign? Where will you begin to prove your vision of long-ranged hydrogen travel?

Russell: The story has been a chicken-and-egg problem. You want to build hydrogen vehicles, but there is no place to fuel them. You might want to build a hydrogen station, but nobody is going to come there to fuel because there are no vehicles.

When we went to look for customers and said, &quot;we can provide you with the truck, the fuel, and the maintenance, the whole solution, you just provide the driver and the load, and we will do it at a price that is equal to your current diesel cost,&quot;&nbsp;they said &quot;sold.&quot;

It&nbsp;was really easy to sell this vertical integration. In fact, we sold out really fast&nbsp;in terms of reservations.

Nel has proven the infrastructure. They have been running fuel cells in reverse. They have been running electrolysis cells for decades. Norway had an excess of hydro power, and we said, &ldquo;how about we use it to make hydrogen?&quot;

So now it is just a matter of execution. We just have to pick a city pair that we can tie together, where we can build a fueling station on either side of that pair of cities, and then we can cover all the trucks that go back and forth between those cities on a long-haul dedicated route.

So, we can build a station here in Phoenix, on Interstate 10&nbsp;west of metro Phoenix. We can build a station east of metro Los Angeles on Interstate 10. We can tie Interstate 10 together in these two cities. We can do it in bite-sized pieces, one city pair at a time, two stations at a time.

BZ: What are your ambitions in the non-European foreign markets?

Russell: This is a problem for mankind. We are starting in North America and Europe because that is where we can prove the model, but once we prove it there, we do have long-term plans to go all over the world and provide it everywhere because, again, this is about saving the planet.

That is why we also welcome competitors to join us. We will fuel anybody at our stations and will also have charging for battery vehicles, so anybody who needs fuel or needs charging can come to our stations and get it.

We are still hoping that we get vehicles out of our European manufacturing plant in Ulm, Germany in 2021, before the end of the calendar year, but we will announce our specific, one-time COVID-19 delay as soon as we are able to, and that should be not too far down the road.

BZ: What are your thoughts about your current valuation vis-&agrave;-vis both the hype and skepticism surrounding Nikola? Do you have any words for investors?

Russell: The market has received our reverse-merger with VectoIQ really well. We are very grateful for the interest. That gives us confidence that we are going to be able to continue to have access to the capital that we need to execute on our business plan and scale all over the world.

We are still essentially a startup and newly listed, and we are pre-revenue, so we do not expect the market to be stable. We think it will be somewhat volatile going forward, which does not surprise us, but we are so thrilled with the positive reception that we have gotten out of the gate with our stock.

Photo courtesy of Nikola.&nbsp;

Nikola CEO Mark Russell On Hydrogen Truck Vision: 'This Is About Saving The Planet'

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