Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Up – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $8.67, but opened at $8.9899. Norsk Hydro ASA shares last traded at $8.60, with a volume of 12,381 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Pareto Securities lowered shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. Zacks Research raised shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Finally, Danske upgraded shares of Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

The firm’s fifty day simple moving average is $9.49 and its 200 day simple moving average is $10.22. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.21.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly 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. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. The business had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.74 billion. On average, sell-side analysts forecast that Norsk Hydro ASA will post 0.85 EPS for the current year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.