Norsk Hydro ASA (OTCMKTS:NHYDY) Reaches New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NHYDY. The Goldman Sachs Group lowered Norsk Hydro ASA from a “buy” rating to a “sell” rating in a research note on Monday, February 16th. Morgan Stanley reissued an “overweight” rating on shares of Norsk Hydro ASA in a research report on Tuesday, February 24th. Zacks Research downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. BNP Paribas Exane raised shares of Norsk Hydro ASA to an “outperform” rating in a research note on Friday, December 5th. Finally, Citigroup upgraded shares of Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Norsk Hydro ASA Trading Up 3.1%

The firm has a 50-day moving average of $9.26 and a 200 day moving average of $7.98. The company has a market cap of $21.21 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.

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