Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw strong trading volume on Tuesday . 205,040 shares changed hands during trading, an increase of 9% from the previous session’s volume of 188,680 shares.The stock last traded at $8.8050 and had previously closed at $8.93.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NHYDY. UBS Group cut Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Royal Bank Of Canada upgraded Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a report on Friday, March 20th. Danske lowered Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Zacks Research cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Pareto Securities downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Down 1.0%

The business’s fifty day simple moving average is $11.11 and its 200 day simple moving average is $9.92. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 0.58 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Equities analysts forecast that Norsk Hydro ASA will post 1.19 earnings per share for the current fiscal year.

About Norsk Hydro ASA

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.