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

Key Points

• Norsk Hydro ASA shares gapped down from $6.66 to $6.43 before closing at $6.58, with a total trading volume of 5,727 shares.
• Recent analyst ratings indicate a shift, with Kepler Capital Markets downgrading the stock from "strong-buy" to "hold," while Morgan Stanley maintains an "overweight" rating.
• The company reported a quarterly earnings per share (EPS) of $0.16, surpassing expectations of $0.07, on a revenue of $5.23 billion, highlighting a strong return on equity of 11.24%.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.66, but opened at $6.43. Norsk Hydro ASA shares last traded at $6.58, with a volume of 5,727 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Kepler Capital Markets downgraded shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating on shares of Norsk Hydro ASA in a research report on Wednesday, July 30th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Norsk Hydro ASA in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy".

Norsk Hydro ASA Stock Performance

The company has a market cap of $13.37 billion, a PE ratio of 15.02, a P/E/G ratio of 0.32 and a beta of 1.48. 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 firm's 50-day simple moving average is $6.30 and its two-hundred day simple moving average is $5.86.

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