Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Strong Trading Volume – Here’s Why

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw strong trading volume on Monday. 505,006 shares were traded during mid-day trading, an increase of 95% from the previous session’s volume of 259,534 shares. The stock last traded at $7.25 and had previously closed at $7.11.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NHYDY shares. Zacks Research raised 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 restated a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Finally, Danske upgraded Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday, September 28th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Trading Up 2.1%

The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $9.03 and its two-hundred day simple moving average is $10.00. The stock has a market cap of $14.36 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Friday, October 23rd. The industrial products company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Norsk Hydro ASA had a return on equity of 13.82% and a net margin of 6.41%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.72 billion. As a group, equities research analysts predict that Norsk Hydro ASA will post 0.82 earnings per share for the current fiscal year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norwegian industrial company focused on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro is involved in the production, processing, recycling and marketing of aluminum products used in industries such as transportation, construction, packaging and consumer goods.

The company’s aluminum operations span the value chain, including bauxite and alumina activities, primary aluminum production, aluminum recycling, metal sales and downstream manufacturing.