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

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw an uptick in trading volume on Monday . Approximately 481,486 shares traded hands during mid-day trading, an increase of 88% from the previous session’s volume of 256,387 shares.The stock last traded at $8.67 and had previously closed at $8.96.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NHYDY. Morgan Stanley reaffirmed an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Danske lowered shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. Finally, UBS Group cut shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Price Performance

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 firm has a market cap of $17.11 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. The stock has a 50-day moving average of $10.65 and a two-hundred day moving average of $9.99.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%.The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.42 billion. On average, analysts anticipate that Norsk Hydro ASA will post 0.87 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.