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

Norsk Hydro ASA (OTCMKTS:NHYDY) shares saw unusually-high trading volume on Wednesday . 694,898 shares traded hands during mid-day trading, an increase of 176% from the previous session’s volume of 252,152 shares.The stock last traded at $9.72 and had previously closed at $9.74.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NHYDY shares. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. Zacks Research lowered Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Pareto Securities downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Thursday, June 11th. Finally, Danske lowered Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.80 and a beta of 1.02. The stock has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $10.11. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a return on equity of 12.01% and a net margin of 4.90%. As a group, analysts anticipate that Norsk Hydro ASA will post 0.9 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.