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

Norsk Hydro ASA (OTCMKTS:NHYDY) shares gapped down before the market opened on Monday . The stock had previously closed at $11.5975, but opened at $10.86. Norsk Hydro ASA shares last traded at $10.82, with a volume of 30,472 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on NHYDY. Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. UBS Group downgraded Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. Royal Bank Of Canada upgraded Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 20th. Pareto Securities downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group raised Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Up 0.8%

The firm has a market cap of $21.55 billion, a PE ratio of 34.90, a P/E/G ratio of 0.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.14. The business has a fifty day moving average price of $11.63 and a two-hundred day moving average price of $9.72.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The business had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.42 billion. On average, analysts anticipate that Norsk Hydro ASA will post 1.19 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.