Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – What’s Next?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-high trading volume on Friday. 417,639 shares were traded during trading, an increase of 68% from the previous session’s volume of 248,599 shares. The stock last traded at $8.1890 and had previously closed at $8.20.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NHYDY shares. Zacks Research upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. Danske raised shares of Norsk Hydro ASA from a “sell” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Pareto Securities downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Norsk Hydro ASA has a consensus rating of “Hold”.

Norsk Hydro ASA Price Performance

The business has a fifty day simple moving average of $9.39 and a 200 day simple moving average of $10.16. The stock has a market capitalization of $16.21 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%.The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.74 billion. On average, analysts expect that Norsk Hydro ASA will post 0.89 earnings per share for the current year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused primarily on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro operates across the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, recycling, and the manufacture of finished and semi-finished aluminum products.

The company’s businesses include bauxite and alumina operations, primary metal production, aluminum recycling, metal sales, and extrusion. Through its extrusion activities, Hydro supplies aluminum profiles and components used in industries such as construction, transportation, automotive, and consumer products.