Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase - Time to Buy?

Key Points

• Norsk Hydro’s trading volume jumped 35% to 331,282 shares, while the stock rose to $10.06 from a $9.93 close.
• Analyst sentiment is mostly cautious: the stock has an average “Hold” rating, with one Strong Buy, two Buys, six Holds and three Sells. Zacks Research recently downgraded the shares to “Strong Sell,” while Pareto Securities cut its rating to “Hold.”
• The company slightly exceeded quarterly expectations, reporting $0.23 in EPS versus the $0.22 consensus and revenue of $5.88 billion versus $5.74 billion expected. Analysts forecast full-year EPS of $0.91.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw unusually-strong trading volume on Friday . 331,282 shares were traded during trading, an increase of 35% from the previous session's volume of 245,359 shares.The stock last traded at $10.06 and had previously closed at $9.93.

Analyst Upgrades and Downgrades

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

Norsk Hydro ASA Stock Down 0.1%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.14 and a current ratio of 1.91. The firm has a fifty day simple moving average of $9.28 and a 200-day simple moving average of $10.18. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.77 and a beta of 1.02.

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

About Norsk Hydro ASA

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