Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Up – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price gapped up prior to trading on Tuesday. The stock had previously closed at $8.67, but opened at $8.9899. Norsk Hydro ASA shares last traded at $8.60, with a volume of 12,381 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research upgraded Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Pareto Securities downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Thursday, June 11th. Danske raised shares of Norsk Hydro ASA from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

The stock has a 50 day moving average price of $9.49 and a two-hundred day moving average price of $10.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. The company has a market capitalization of $17.00 billion, a PE ratio of 16.46, a P/E/G ratio of 1.68 and a beta of 1.03.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. Equities analysts forecast that Norsk Hydro ASA will post 0.85 earnings per share for the current year.

Norsk Hydro ASA Company Profile

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.