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

Key Points

• Norsk Hydro’s trading volume surged 95% to approximately 505,006 shares, while the stock rose 2.1% to $7.25 from its prior close of $7.11.
• Analyst sentiment remains broadly neutral: the company has a consensus “Hold” rating, with one Strong Buy, two Buys, seven Holds and one Sell.
• In its latest quarter, Norsk Hydro reported earnings of $0.24 per share, matching estimates, while revenue of $5.59 billion fell short of the $5.72 billion consensus forecast.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw unusually-high trading volume on Monday. Approximately 505,006 shares traded hands during trading, an increase of 95% from the previous session's volume of 259,534 shares. The stock last traded at $7.25 and had previously closed at $7.11.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NHYDY shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Zacks Research upgraded shares of Norsk Hydro ASA from a "strong sell" rating to a "hold" rating in a research report on Friday, September 4th. Finally, Danske raised shares of Norsk Hydro ASA from a "sell" rating to a "hold" rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Norsk Hydro ASA has a consensus rating of "Hold".

Norsk Hydro ASA Stock Up 2.1%

The company has a fifty day moving average of $9.03 and a 200 day moving average of $10.00. The company has a market cap of $14.36 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.72 billion. Norsk Hydro ASA had a return on equity of 13.82% and a net margin of 6.41%. On average, research analysts anticipate that Norsk Hydro ASA will post 0.82 earnings per share for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company focused on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro is involved in the production, processing, recycling and marketing of aluminum products used in industries such as transportation, construction, packaging and consumer goods.

The company's aluminum operations span the value chain, including bauxite and alumina activities, primary aluminum production, aluminum recycling, metal sales and downstream manufacturing.

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