Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Time to Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw strong trading volume on Friday . 487,088 shares traded hands during trading, an increase of 123% from the previous session’s volume of 218,155 shares.The stock last traded at $9.30 and had previously closed at $9.18.

Wall Street Analysts Forecast Growth

NHYDY has been the subject of a number of analyst reports. The Goldman Sachs Group lowered shares of Norsk Hydro ASA from a “buy” rating to a “sell” rating in a report on Monday, February 16th. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Zacks Research cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Royal Bank Of Canada downgraded shares of Norsk Hydro ASA from a “moderate buy” rating to a “hold” rating in a report on Monday, February 16th. Finally, Citigroup upgraded Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Norsk Hydro ASA has an average rating of “Hold”.

Norsk Hydro ASA Stock Up 1.4%

The business’s fifty day moving average is $8.59 and its two-hundred day moving average is $7.48. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 1.33 and a beta of 1.15. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings data on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.82 billion. Norsk Hydro ASA had a return on equity of 9.44% and a net margin of 3.06%. Equities analysts forecast that Norsk Hydro ASA will post 0.72 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.