Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down – Here’s Why

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) gapped down prior to trading on Thursday . The stock had previously closed at $7.66, but opened at $7.38. Norsk Hydro ASA shares last traded at $7.61, with a volume of 24,569 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley restated an “overweight” rating on shares of Norsk Hydro ASA in a research note on Tuesday. Danske upgraded shares of Norsk Hydro ASA to a “hold” rating in a research note on Monday, October 27th. BNP Paribas upgraded shares of Norsk Hydro ASA to an “outperform” rating in a research report on Friday, December 5th. Barclays cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Wall Street Zen cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Up 0.8%

The stock’s fifty day simple moving average is $7.12 and its two-hundred day simple moving average is $6.55. The stock has a market capitalization of $15.23 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.25 and a current ratio of 1.91.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Friday, October 24th. The industrial products company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Norsk Hydro ASA had a net margin of 4.96% and a return on equity of 10.20%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $47.19 billion. As a group, research analysts expect that Norsk Hydro ASA will post 0.72 EPS 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.