Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down Following Analyst Downgrade

Norsk Hydro ASA (OTCMKTS:NHYDY) gapped down prior to trading on Tuesday after Kepler Capital Markets downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $9.10, but opened at $8.55. Norsk Hydro ASA shares last traded at $8.50, with a volume of 46,336 shares changing hands.

A number of other research analysts have also issued reports on NHYDY. BNP Paribas Exane upgraded shares of Norsk Hydro ASA to an “outperform” rating in a report on Friday, December 5th. Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Danske upgraded shares of Norsk Hydro ASA to a “hold” rating in a report on Monday, October 27th. Morgan Stanley restated an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, December 16th. Finally, Zacks Research downgraded Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Norsk Hydro ASA Price Performance

The stock has a fifty day moving average price of $8.40 and a two-hundred day moving average price of $7.37. The company has a market cap of $17.31 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Norsk Hydro ASA had a net margin of 3.06% and a return on equity of 9.44%. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.82 billion. On average, research analysts expect that Norsk Hydro ASA will post 0.72 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.