Hydrogen Specialist Nel ASA Faces Mounting Challenges as Shares Decline

Order Book and Revenue Show Significant Contraction

Nel ASA, a prominent player in the hydrogen sector, is confronting a severe downturn driven by disappointing operational results and a deteriorating technical outlook for its shares. The company’s latest quarterly figures have significantly unsettled the market, painting a concerning picture for investors.

The stock’s performance has been deeply negative, registering a loss exceeding 56% over the past twelve months. This pronounced underperformance is directly linked to specific weaknesses within the company’s core operations, which were starkly highlighted in its Q2 2025 report.