Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down – Here’s What Happened

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) gapped down prior to trading on Tuesday . 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.

Analysts Set New Price Targets

NHYDY has been the topic of several recent analyst reports. Wall Street Zen cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. The Goldman Sachs Group downgraded shares of Norsk Hydro ASA from a “buy” rating to a “sell” rating in a research report on Monday. Danske raised shares of Norsk Hydro ASA to a “hold” rating in a research report on Monday, October 27th. Zacks Research downgraded Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, BNP Paribas Exane raised Norsk Hydro ASA to an “outperform” rating in a report on Friday, December 5th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Norsk Hydro ASA has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

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 $16.96 billion, a PE ratio of 27.65, a PEG ratio of 0.30 and a beta of 1.15. The company has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $7.34.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its earnings results on Friday, February 13th. The industrial products company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.82 billion. Norsk Hydro ASA had a return on equity of 9.44% and a net margin of 3.06%. Analysts predict that Norsk Hydro ASA will post 0.72 EPS for the current fiscal 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.