Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Unusually-High Trading Volume – Here’s Why

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw unusually-high trading volume on Wednesday . Approximately 694,898 shares were traded during mid-day trading, an increase of 176% from the previous session’s volume of 252,152 shares.The stock last traded at $9.72 and had previously closed at $9.74.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Zacks Research downgraded Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. Finally, Danske cut Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Norsk Hydro ASA Trading Down 2.1%

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $9.60 and its 200 day moving average is $10.12. The stock has a market cap of $18.82 billion, a PE ratio of 18.22, a P/E/G ratio of 1.76 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 12.01%. As a group, analysts predict that Norsk Hydro ASA will post 0.9 earnings per share 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.