Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 12-Month High – Here’s What Happened

Norsk Hydro ASA (OTCMKTS:NHYDY) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.40 and last traded at $10.35, with a volume of 194906 shares traded. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday, February 27th. BNP Paribas Exane upgraded shares of Norsk Hydro ASA to an “outperform” rating in a report on Friday, December 5th. Citigroup raised Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a report on Monday, February 23rd. Zacks Research downgraded Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Norsk Hydro ASA in a research note on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Up 8.9%

The business’s 50 day simple moving average is $9.17 and its 200 day simple moving average is $7.93. The company has a market capitalization of $20.54 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.

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