Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down - What's Next?

Key Points

• Norsk Hydro ASA shares gapped down on Friday, opening at $6.86 after closing at $7.14, indicating a decline in market confidence.
• Multiple analysts have downgraded the stock, with Pareto Securities lowering its rating from "strong-buy" to "hold", leading to a consensus rating of "hold" among analysts.
• The company's recent earnings report showed $0.16 EPS, surpassing expectations, but its revenue was considerably lower than anticipated at $5.23 billion.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.14, but opened at $6.86. Norsk Hydro ASA shares last traded at $6.85, with a volume of 12,838 shares changing hands.

Wall Street Analyst Weigh In

NHYDY has been the subject of a number of recent research reports. Pareto Securities downgraded Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Citigroup restated a "neutral" rating on shares of Norsk Hydro ASA in a research report on Friday, September 26th. Morgan Stanley restated an "overweight" rating on shares of Norsk Hydro ASA in a research report on Wednesday, October 8th. Barclays lowered Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Finally, Kepler Capital Markets lowered Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

Norsk Hydro ASA Price Performance

The business has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $6.02. The firm has a market cap of $13.63 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 0.32 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.92.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The industrial products company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.09. Norsk Hydro ASA had a return on equity of 11.24% and a net margin of 4.37%.The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $51.63 billion. On average, 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.

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