Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Up - Here's Why

Key Points

• Norsk Hydro shares opened higher, rising from a previous close of $9.02 to $9.44 before trading at $9.137, up about 0.9%.
• Analyst sentiment remains cautious: the stock carries an overall “Hold” rating, with seven Holds, two Buys, one Strong Buy and two Sells; Pareto Securities recently downgraded it to Hold.
• The company exceeded quarterly expectations, reporting $0.23 earnings per share 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) gapped up prior to trading on Tuesday . The stock had previously closed at $9.02, but opened at $9.44. Norsk Hydro ASA shares last traded at $9.1370, with a volume of 5,491 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NHYDY shares. Pareto Securities lowered shares of Norsk Hydro ASA from a "buy" rating to a "hold" rating in a research report on Thursday, June 11th. Zacks Research upgraded shares of Norsk Hydro ASA from a "strong sell" rating to a "hold" rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. Finally, Citigroup restated a "neutral" rating on shares of Norsk Hydro ASA in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold".

Norsk Hydro ASA Stock Up 0.9%

The company has a market cap of $18.00 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The company has a fifty day moving average of $9.50 and a two-hundred day moving average of $10.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91.

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 earnings per share 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 business had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.74 billion. As a group, analysts anticipate that Norsk Hydro ASA will post 0.93 earnings per share for the current fiscal year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.

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