Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Norsk Hydro’s trading volume jumped 68% to approximately 417,639 shares, while the stock was nearly unchanged at $8.1890.
• Analyst sentiment remains cautious: the consensus rating is “Hold,” with seven holds, two buys, one strong buy, and one sell rating.
• The company slightly exceeded quarterly expectations, reporting $0.23 EPS versus a $0.22 estimate and revenue of $5.88 billion versus $5.74 billion expected.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw an uptick in trading volume on Friday. Approximately 417,639 shares traded hands during mid-day trading, an increase of 68% from the previous session's volume of 248,599 shares. The stock last traded at $8.1890 and had previously closed at $8.20.

Wall Street Analysts Forecast Growth

NHYDY has been the topic of several research reports. Danske upgraded Norsk Hydro ASA from a "sell" rating to a "hold" rating in a report on Monday, September 28th. 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. Pareto Securities lowered shares of Norsk Hydro ASA from a "buy" rating to a "hold" rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".

Norsk Hydro ASA Stock Down 0.1%

The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.47 and a beta of 1.10. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $9.39 and its 200-day moving average price is $10.16.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.74 billion. On average, sell-side analysts expect that Norsk Hydro ASA will post 0.89 earnings per share for the current year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused primarily on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro operates across the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, recycling, and the manufacture of finished and semi-finished aluminum products.

The company's businesses include bauxite and alumina operations, primary metal production, aluminum recycling, metal sales, and extrusion. Through its extrusion activities, Hydro supplies aluminum profiles and components used in industries such as construction, transportation, automotive, and consumer products.

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