Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down – What’s Next?

by · The Cerbat Gem

Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $9.04, but opened at $8.61. Norsk Hydro ASA shares last traded at $8.76, with a volume of 43,963 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NHYDY shares. The Goldman Sachs Group raised Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research note on Tuesday, June 2nd. Pareto Securities lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Thursday, June 11th. UBS Group cut shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada raised shares of Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Get Our Latest Report on NHYDY

Norsk Hydro ASA Trading Down 0.6%

The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $9.89. The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 0.60 and a beta of 1.03.

Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%.The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.42 billion. As a group, research analysts forecast that Norsk Hydro ASA will post 1.19 earnings per share for the current fiscal year.

About Norsk Hydro ASA

(Get Free Report)

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.

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