Nel Drops 7% After DNB Says Yesterday's Gain Is Big Sell Opportunity

• (PLX AI) - Nel shares fell 7% after DNB reiterated its sell recommendation on the stock after yesterday's 21% gain.
• • Nel shares gained yesterday on the back of quarterly revenue beating estimates, but EBITDA was below expectations
• • This makes for a highly attractive selling opportunity, DNB said, cutting their price target to NOK 9 from NOK 10
• • Nel faces concerning cost trends, with increases in raw materials and personnel
• • Large orders will arrive at some point, but until they do, the current lack of orders is affecting 2022 estimates and even 2023 as the industry moves slowly, DNB said