Norsk Hydro ASA (OTCMKTS:NHYDY) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Norsk Hydro ASA (OTCMKTS:NHYDY) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.91 and traded as low as $6.9075. Norsk Hydro ASA shares last traded at $7.02, with a volume of 83,173 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NHYDY. Wall Street Zen downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Morgan Stanley reissued an “overweight” rating on shares of Norsk Hydro ASA in a report on Wednesday, October 8th. Kepler Capital Markets cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. Pareto Securities cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.92 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.31 and a beta of 1.46. The business’s 50 day simple moving average is $6.91 and its 200-day simple moving average is $6.28.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $47.19 billion. Norsk Hydro ASA had a net margin of 4.96% and a return on equity of 10.39%. On average, research analysts forecast that Norsk Hydro ASA will post 0.72 earnings per share for the current year.

About Norsk Hydro ASA

Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments.