In the past week, the mobility stocks continued their good performance making the sector the only one delivering a positive return year-to-date. Multiple companies rose after capital injections. This year many hydrogen companies have had significant share price increases, this week both Everfuel and NEL suffered major share price setbacks.
NORDIC | IMPACT Helps you to invest more sustainably in the businesses of tomorrow. We track the development of more than 100 Nordic impact companies within multiple impact sectors from small to large cap.
Mobility on top – again
In the past week, the mobility sector yet again was the best performer. The sector is now the only one with a positive return year-to-date. The positive trajectory was driven by good performance by the Danish companies Donkey Republic and GreenMobility following 50% growth in Q1 by the latter. The CO2 & Carbon Capture sector also had a good week, while Power2X & Fuel Cells did poorly with a 6% decline. The poor performance was especially driven by the two hydrogen stocks Everfuel (-24%) and NEL (-9%). NEL delivered worse than expected quarterly results, whereafter multiple analysts lowered their price targets.
The average return of impact stocks the past week was -2.22% driven by an overall decline rather than single stocks falling apart. All sectors except for the mobility sector are still down year-to-date and thus underperforming relative to the majority of global indexes that have risen.
Overview of the performance of each sector the past week
TOP 10 IMPACT STOCKS OF THE WEEK
Recyctec was the best-performing stock last week with a 43% increase – without any news. The company develops purification methods that restore glycol to its original state so that it may again be utilised. Ferroamp came in second with an 18% increase after they received MSEK 39 from a rights issue. The company develops various modular systems and technical platforms for energy storage. Finally, Bioextrax also did well. Bioextrax is a recycling company that specializes in making technology platforms that convert organic waste into various environmentally friendly materials. The stock rose 14% following a fully subscribed rights issue, where the company will receive MSEK 9.3 before costs. Both Climeon and Nordic Aqua Partners released their annual reports yesterday.
The return for the top 10 impact stocks last week was 10.9%.
The 10 best-performing stocks in the past week
TOP 10 IMPACT STOCKS OF THE YEAR
The dynamics of the top 10 continue with new companies getting in each week. Midsummer (76%) is still the best performer although the stock has fallen 30% since its highest closing price. Following last week’s performance, Recyctec and Ferroamp have moved into the top 10.
The current average return of the top 10 stocks year-to-date is 43.3% – lower than last week’s 45%.
Top 10 best-performing impact stocks of the year
All sectors year-to-date
Waste Management
The waste management sector, characterized by its essential and non-cyclical nature, should present a stable investment opportunity with long-term potential, driven by increasing environmental awareness, regulatory demands, and the growing need for efficient waste disposal and recycling solutions. Despite this, the majority of the stocks have performed negatively this year. Recyctec, Scandinavian Enviro Systems, and Agilyx have delivered 20%+ returns year-to-date.
Waste Management – YTD
Energy Production & Storage
The Energy Production and Storage sector offers substantial investment opportunities, as it stands at the forefront of the transition towards renewable energy sources, driven by climate concerns and technological advancements. Year-to-date, 5 stocks have delivered a positive return.
Energy Production & Storage – YTD
Energy Production Equipment & Services
The Energy Production Equipment & Services provides technical equipment and machines to other energy-producing companies such as Ørsted. The sector is to some extent influenced by oil and gas price fluctuations and industry trends. Year to date, Midsummer is the stand-out stock, while Green Hydrogen Systems, and Ferroamp are doing well with 40%+ returns.
Energy Production Equipment & Services – YTD
Power2X & Fuel Cells
The Power-to-X and Fuel Cells sector offers exciting investment opportunities in the evolving landscape of clean and sustainable energy technologies, but investors should also be mindful of the evolving regulatory and competitive landscape in this rapidly advancing field. Everfuel is the only stock to have had a materially positive impact on the sector year-to-date.
Power2X & Fuel Cells – YTD
Food & Beverages
The food and beverages sector is heavily driven by consumer demand and having strong brands is a major advantage. Investors should consider factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Year to date, Nordic Aqua Partners has delivered a +50% return.
Food & Beverages – YTD
CO2 & Carbon Capture
The CO2 and Carbon Capture sector presents compelling investment opportunities for companies capturing and removing carbon dioxide from the atmosphere. It is a small sector comprising only 6 stocks, with Capsol Technologies as the best-performing year-to-date.
CO2 & Carbon Capture sector YTD
Mobility
The mobility sector includes among others ride-sharing platforms and the development of electric vehicles to lower emissions and costs for consumers while increasing flexibility. Mobility is the smallest sector we track totaling 5 stocks. Clean Motion AB is the best performer in 2024 followed by Donkey Republic.
Mobility YTD
