Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down After Analyst Downgrade

Norsk Hydro ASA (OTCMKTS:NHYDY) shares gapped down prior to trading on Tuesday after Kepler Capital Markets downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $9.10, but opened at $8.55. Norsk Hydro ASA shares last traded at $8.50, with a volume of 46,336 shares trading hands.

Several other equities research analysts have also recently issued reports on the company. BNP Paribas Exane upgraded Norsk Hydro ASA to an “outperform” rating in a research note on Friday, December 5th. Zacks Research lowered Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Royal Bank Of Canada cut Norsk Hydro ASA from a “moderate buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Finally, Danske upgraded shares of Norsk Hydro ASA to a “hold” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Norsk Hydro ASA presently has an average rating of “Reduce”.

Norsk Hydro ASA Stock Performance

The business’s 50 day simple moving average is $8.40 and its two-hundred day simple moving average is $7.37. The stock has a market cap of $17.31 billion, a P/E ratio of 28.23, a PEG ratio of 1.21 and a beta of 1.15. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Norsk Hydro ASA had a return on equity of 9.44% and a net margin of 3.06%.The company had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.82 billion. As a group, analysts expect that Norsk Hydro ASA will post 0.72 EPS for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.