Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume surged 122% to approximately 556,532 shares, while Norsk Hydro’s stock last traded at $10.17, below its previous close of $10.32.
• Analyst sentiment is mixed but leans neutral, with the stock carrying a consensus “Hold” rating; recent actions included downgrades from Pareto Securities and Zacks Research.
• Norsk Hydro exceeded quarterly expectations, reporting $0.23 EPS versus a $0.22 estimate and revenue of $5.88 billion versus a $5.74 billion consensus forecast.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw unusually-high trading volume on Friday . Approximately 556,532 shares traded hands during trading, an increase of 122% from the previous session's volume of 250,683 shares.The stock last traded at $10.1737 and had previously closed at $10.32.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NHYDY shares. Citigroup restated a "neutral" rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. Pareto Securities downgraded shares of Norsk Hydro ASA from a "buy" rating to a "hold" rating in a research report on Thursday, June 11th. Zacks Research lowered Norsk Hydro ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Norsk Hydro ASA Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. The company has a market cap of $20.14 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.78 and a beta of 1.03. The firm's fifty day moving average is $9.32 and its two-hundred day moving average is $10.20.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.74 billion. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. As a group, analysts anticipate that Norsk Hydro ASA will post 0.91 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source