Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Strong Trading Volume – What’s Next?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw strong trading volume on Thursday . 1,658,710 shares traded hands during trading, an increase of 664% from the previous session’s volume of 217,236 shares.The stock last traded at $8.5542 and had previously closed at $8.63.

Analysts Set New Price Targets

NHYDY has been the topic of several research analyst reports. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. Royal Bank Of Canada restated an “outperform” rating on shares of Norsk Hydro ASA in a research note on Friday, November 21st. Pareto Securities downgraded Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, Barclays downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Norsk Hydro ASA Price Performance

The firm has a market capitalization of $17.00 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.25 and a beta of 1.15. The stock’s fifty day simple moving average is $7.65 and its 200 day simple moving average is $6.95. 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 quarterly earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $47.19 billion. On average, equities research analysts predict 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.