Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Should You Buy?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-high trading volume on Tuesday . Approximately 133,952 shares changed hands during mid-day trading, an increase of 94% from the previous session’s volume of 69,017 shares.The stock last traded at $8.22 and had previously closed at $8.19.

Wall Street Analyst Weigh In

NHYDY has been the subject of a number of analyst reports. Zacks Research upgraded Norsk Hydro ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Citigroup reaffirmed a “neutral” rating on shares of Norsk Hydro ASA in a research report on Friday, September 26th. Morgan Stanley restated an “overweight” rating on shares of Norsk Hydro ASA in a research note on Tuesday, December 16th. Barclays downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Danske upgraded shares of Norsk Hydro ASA to a “hold” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Norsk Hydro ASA Trading Up 0.8%

The firm has a market cap of $16.33 billion, a PE ratio of 15.88, a PEG ratio of 0.24 and a beta of 1.15. The firm has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $6.83. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Norsk Hydro ASA had a net margin of 4.96% and a return on equity of 10.20%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $47.19 billion. Equities analysts forecast 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.