Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-strong trading volume on Monday . Approximately 481,486 shares were traded during mid-day trading, an increase of 88% from the previous session’s volume of 256,387 shares.The stock last traded at $8.67 and had previously closed at $8.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Danske downgraded shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Zacks Research cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. Citigroup reaffirmed a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

The firm has a market capitalization of $17.43 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.73. The business has a 50 day simple moving average of $10.54 and a two-hundred day simple moving average of $10.00.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.42 billion. On average, sell-side analysts expect that Norsk Hydro ASA will post 0.87 EPS 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.