Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down - Here's Why

Key Points

• Norsk Hydro ASA shares opened lower at $6.72, down from a previous close of $6.93, indicating a notable market movement prior to trading on Wednesday.
• Multiple analysts have made downgraded ratings, with Pareto Securities and Kepler Capital Markets now rating the stock as "hold".
• The company reported earnings per share (EPS) of $0.16 for its last quarter, exceeding estimates, with projected full-year EPS expected to reach 0.72.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $6.93, but opened at $6.72. Norsk Hydro ASA shares last traded at $6.97, with a volume of 918 shares changing hands.

Analysts Set New Price Targets

NHYDY has been the subject of several analyst reports. Pareto Securities lowered shares of Norsk Hydro ASA to a "hold" rating in a research note on Wednesday. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Norsk Hydro ASA in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Norsk Hydro ASA Stock Performance

The firm's fifty day moving average price is $6.56 and its 200-day moving average price is $5.93. The company has a current ratio of 1.92, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a market cap of $13.79 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.32 and a beta of 1.44.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. Norsk Hydro ASA had a net margin of 4.37% and a return on equity of 11.24%. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $51.63 billion. As a group, research analysts forecast that Norsk Hydro ASA will post 0.72 EPS for the current fiscal 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.

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