the two red lanterns of the Spanish bag

Solaria and Soltec, the two red lanterns of the Spanish stock market

The largest, Solaria, is worth almost 3 times more in the market than the smallest, Soltec Powr Br-Unty and they work in different facets within the sector, but both have lived in investor paradise and in the hell of money traded in 2020 and 2021, respectively. Joys in 2020 and penalties, many penalties in what we have been exercising, on account of what many analysts call “The renewable bubble”.

It is about that bottomless pit in which the experts and market analysts considered that these companies had found themselves, with clear inorganic growth and budding projects, which in many cases do not finish crystallizing, with more than high valuations and growth to triple digits in the past year: Solaria with increases in 2020 of 247%, let’s not forget him as the great queen of the market, and Soltec, with something else, then, in December of last year, of two months of stock market life, with revaluations of 173%.

Solaria forecasts in its strategic plan 2025Solaria forecasts in its strategic plan 2025

Solaria forecasts in its 2025 strategic plan

They were the great bet for this year and for the Next Generation EU, with sustainability as a flag that everything seems to move with more force, even after the pandemic. Now things have changed, projects are looked at with a magnifying glass and the two values ​​continue to pay the so-called overvaluation that market analysts talk about.

Nonetheless, experts talk about specific opportunities, that each project and company is different and investors are more selective. However, as we have seen in the case of Solarpack, the institutional investment is very pending, with a takeover bid, in the market.

In this way they can be revitalized, despite the fact that parts with very pronounced corrections. In its price graph, Solaria tells us that the depth of the falls has returned to stay: 8.5% in the last five sessions, with losses in the 20 present sessions of 4.3%, while, so far of year, the cuts for the value continue being the most pronounced of the Ibex with losses of 36.53%.

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For its part, from Soltec we look at the insignificant falls of the last three sessions, which, however, deepen the annual cuts of what, again after the rebound of Codere, the worst value on the Spanish stock market with annual cuts that reach 45.11%.

And if we look back we see that Since it started trading in 2007 on the Solaria market, it has earned 58% and since its arrival at the Ibex, on October 18 of last year, it has yielded 17% in its achievement. For its part, Soltec has appreciated 51% since its premiere last October.

Solaria and Soltec price comparisonSolaria and Soltec price comparison

Solaria and Soltec price comparison

On this day Soltec holds its Shareholders’ Meeting that you plan to approve a capital increase of 13 million euros, if you get the backing of investors. To this end, it will issue 52,000 shares with an individual par value of 1 euro each and an individual issue premium of 249 euros.

Plus, as part of the debt restructuring operation of a 2018 loan, has renewed it, with the scope of 90 million euros and has obtained a new revolving syndicated line of guarantees for a value of 110 million for a total of 200 million euros with a 3-year term, maturing therefore in 2024. The idea of the company is to reach with these funds the financing of its projects and its activities.

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Soltec company forecasts

While Solaria, continues to be one of the values ​​to which analysts grant the greatest potential, further encouraged by the improvement in recommendation a week ago by UBS, which raised to hold from sell, but with a target price that already exceeds its listing, 14.80 euros per share.

We will have to wait to see how photovoltaic plants on the stock market continue to evolve during the current recovery year and if the market considers that they have reached a point of equilibrium to change that harshly negative pattern that they maintain. And it is that the renewable sector works, The next test will be that of Acciona Energía, which will hit the market on July 1, now reserved for institutional companies, who have already shown their interest in securing the placement in just one day to cover the firm’s 15% capital.

And one thing, although I fear that these values ​​have in common negative, in addition to being the red lanterns of its indexes, IGBM in the case of Soltec and the Ibex in that of Solaria. We are talking about short positions and limited technical indicators.

In the case of short positions. For Solaria, who came to be the value of the Ibex with the highest level of bears in its shareholding This is the current situation: they reach 2.54%: one of Odey AM since May 17 unchanged at 1.77% of its capital, and since June 2 Helikon Investments has maintained a 0.77% decrease about Solaria. And for Soltec it has been maintained since June 7, a negative 0.60% also from the British fund, Helikon Investment.

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