Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 52-Week High – Here’s What Happened

Norsk Hydro ASA (OTCMKTS:NHYDY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.6950 and last traded at $9.63, with a volume of 23219 shares. The stock had previously closed at $9.42.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NHYDY. Morgan Stanley reaffirmed an “overweight” rating on shares of Norsk Hydro ASA in a research report on Tuesday, December 16th. Danske upgraded Norsk Hydro ASA to a “hold” rating in a report on Monday, October 27th. Wall Street Zen lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of Norsk Hydro ASA in a research report on Friday, November 21st. Finally, Zacks Research lowered shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Norsk Hydro ASA has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Up 2.5%

The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $19.11 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 0.28 and a beta of 1.15. The company has a 50-day moving average of $8.19 and a two-hundred day moving average of $7.25.

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.