Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Here’s Why

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw strong trading volume on Tuesday . Approximately 205,040 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 188,680 shares.The stock last traded at $8.8050 and had previously closed at $8.93.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday. UBS Group downgraded shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. The Goldman Sachs Group upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Zacks Research cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Danske lowered shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Norsk Hydro ASA currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Down 1.0%

The company has a market capitalization of $17.48 billion, a P/E ratio of 28.33, a P/E/G ratio of 0.58 and a beta of 1.02. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $11.11 and a 200-day simple moving average of $9.92.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%.The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.42 billion. On average, equities research analysts expect that Norsk Hydro ASA will post 1.19 EPS for the current fiscal 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.