Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Strong Trading Volume - Here's Why

Key Points

• Trading volume surged 176% to 694,898 shares, while Norsk Hydro’s stock was nearly unchanged at $9.72.
• Analyst sentiment is mostly cautious: the stock has a consensus rating of “Hold”, with recent downgrades from Pareto Securities, Zacks Research, and Danske.
• Norsk Hydro slightly beat quarterly expectations, reporting $0.23 EPS versus the $0.22 estimate and revenue of $5.88 billion versus $5.74 billion expected.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw an uptick in trading volume on Wednesday . 694,898 shares were traded 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NHYDY shares. Pareto Securities lowered shares of Norsk Hydro ASA from a "buy" rating to a "hold" rating in a research note on Thursday, June 11th. Zacks Research downgraded shares of Norsk Hydro ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Citigroup reaffirmed 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. Finally, Danske lowered shares of Norsk Hydro ASA from a "hold" rating to a "sell" rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Norsk Hydro ASA currently has a consensus rating of "Hold".

Norsk Hydro ASA Trading Up 0.1%

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 business has a 50 day simple moving average of $9.73 and a two-hundred day simple moving average of $10.11. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $5.88 billion for the quarter, compared to analyst estimates 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, equities analysts anticipate that Norsk Hydro ASA will post 0.9 EPS for the current 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.

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