Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Should You Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-high trading volume on Monday. 505,006 shares were traded during trading, an increase of 95% from the average daily volume of 259,534 shares. The stock last traded at $7.25 and had previously closed at $7.11.

Analyst Ratings Changes

Several research analysts recently issued reports on NHYDY shares. Zacks Research cut shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Danske upgraded Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Trading Up 1.0%

The business’s 50 day moving average price is $8.93 and its two-hundred day moving average price is $9.72. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 10.44 and a beta of 1.10.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Friday, October 23rd. The industrial products company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Analysts expect that Norsk Hydro ASA will post 0.82 EPS for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company focused on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro is involved in the production, processing, recycling and marketing of aluminum products used in industries such as transportation, construction, packaging and consumer goods.

The company’s aluminum operations span the value chain, including bauxite and alumina activities, primary aluminum production, aluminum recycling, metal sales and downstream manufacturing.