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

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-strong trading volume on Monday . Approximately 287,350 shares traded hands during trading, an increase of 35% from the previous session’s volume of 212,070 shares.The stock last traded at $8.90 and had previously closed at $8.78.

Analysts Set New Price Targets

Several analysts recently commented on NHYDY shares. Danske lowered Norsk Hydro ASA from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Royal Bank Of Canada raised Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a report on Friday, March 20th. Zacks Research cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group downgraded Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Performance

The company has a market cap of $17.59 billion, a P/E ratio of 28.50, a PEG ratio of 1.45 and a beta of 1.02. The business’s 50 day simple moving average is $10.90 and its 200 day simple moving average is $9.95. 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 quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. Sell-side analysts predict that Norsk Hydro ASA will post 0.99 earnings per share 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.