Nel ASA (OTCMKTS:NLLSF) Downgraded to “Neutral” at Citigroup

Nel ASA (OTCMKTS:NLLSFGet Rating) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

A number of other analysts have also weighed in on the stock. HSBC lowered shares of Nel ASA to a “hold” rating and set a $13.00 price target for the company. in a research note on Tuesday, February 8th. JPMorgan Chase & Co. upped their price target on shares of Nel ASA from 10.00 to 11.40 and gave the stock an “underweight” rating in a research note on Tuesday, March 1st. Finally, Royal Bank of Canada upped their price target on shares of Nel ASA from 21.00 to 24.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.13.

Shares of OTCMKTS:NLLSF opened at $1.24 on Thursday. The company has a 50 day moving average of $1.71 and a 200-day moving average of $1.73. Nel ASA has a twelve month low of $1.18 and a twelve month high of $2.50.

About Nel ASA (Get Rating)

Nel ASA, a hydrogen company, delivers various solutions to produce, store, and distribute hydrogen from renewable energy in Norway, the United States, Denmark, and South Korea. The company operates in two segments, Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment produces H2Station hydrogen fueling stations that provide fuel cell electric vehicles with the fueling and long range as conventional fossil fuel vehicles, including cars, buses, trucks, forklifts, and other applications.

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