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

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.73, but opened at $9.35. Norsk Hydro ASA shares last traded at $9.46, with a volume of 34,405 shares.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. Pareto Securities cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and three have given 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 4.9%

The firm has a 50-day moving average of $9.33 and a 200 day moving average of $10.14. The company has a market cap of $19.68 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. 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 Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Norsk Hydro ASA had a return on equity of 12.01% and a net margin of 4.90%.The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.74 billion. On average, analysts predict that Norsk Hydro ASA will post 0.91 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.