Energy production stocks on the move, broader interest in impact stocks and potatoes in top 10

In the past week, the Energy Production & Storage sector did well although it was driven by a few stocks with great performance. Only a few of the stocks in the top 10 reported news for the past week, which indicates a broader interest in the growth exchanges that send up the stocks rather than individual company news.

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.

Energy Production & Storage on top

In the past week, the mobility sector had a good performance yet again although the Energy Production & Storage sector was the overall winner with a 4% increase. The increase in the Energy Production & Storage sector was mainly driven Norsk Renewables AS rising 78% and EAM Solar ASA rising 11%. On the other side of the spectrum, the Food & Beverage decreased by 3% following the poor performance of Agtira AB. The changes in the different sectors follow the usual pattern with single companies creating big moves on sector level.

The average return of impact stocks the past week was -0.02% driven by an overall decline with few companies keeping the index at almost zero. 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

Norsk Renewables AS was by far the best-performing stock last week with a 78% increase. The company is an independent power producer that plans, develops, builds, owns, and operates renewable energy solutions for businesses and industries. The company announced that it had raised MNOK 3.7 last week, but the significant increase in the share price came two days later.

Soltech Energy Sweden AB rose 20% following positive research by Analysguiden about the company. The company is a comprehensive supplier that develops, sells, and installs solar energy solutions for both companies and private individuals.

Notably, almost all of the stocks in the top 10 did not report any news or received positive PR elsewhere. They seem to be driven by momentum in the shares following news earlier this month. Furthermore, it can indicate an increased interest in the impact which have been under significant downward pressure the past two years. The average return for the top 10 impact stocks last week was 17.6%.

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. Nordic Aqua Partners is now the best performer at 66% closely followed by Midsummer (64%) and Ferroamp (56%). Although Norsk Renewables did very well last week, the stock is still down 61% and thus not anywhere near the top 10. Compared to last week, the only change is the “potato milk” producer Veg of Lund which has taken Everfuel’s place.

The current average return of the top 10 stocks year-to-date is 39.7% – lower than last week’s 43.3%.

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, 6 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 best stock, while Green Hydrogen Systems, and Ferroamp are also ourperforming with 56% and 34% 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

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