Vestas CEO spends $150,000 on shares after Trump win stokes slump
Henrik Andersen buys 10,000 shares in Danish wind power giant after turbulent week
Vestas CEO Henrik Andersen has bought 10,000 of the global wind turbine group’s shares, the Danish company disclosed.
Andersen bought the shares this morning at Dkr106.55 each for a total spend of DKr1,065,500 ($154,500), Vestas said in disclosure under stock exchange rules.
The company’s share price stood at DKr108.25 by late afternoon trading in Copenhagen on Thursday.
The CEO bought the shares the day after Vestas – like other global green energy-related stocks such as Orsted and Nordex – came under pressure as it became clear Donald Trump was set to win the US election.
Deutsche Bank in a note this week published before the presidential vote said that Vestas “is one of the most exposed [capital goods] names to the US election, with the US a key market and wind OEMs sensitive to politics and regulations”.
“Vestas' localisation of production in the US in key components helps to mitigate most of the tariff risks, but political uncertainty is already expressing itself in delayed investment decisions and lower expectations for market growth,” wrote analyst John Kim.
Andersen said earlier this week while presenting quarterly results that US demand for power was strong regardless of the political situation, driven by the boom in data centres among other factors.
The shares had a turbulent week overall, declining almost 18% over the last five days as investor concerns over aspects of the results were compounded by the election.
Vestas shares have almost halved in value this year as part of a wider downward trend among renewable energy stocks.
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