Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Unusually-High Trading Volume – Here’s What Happened

Norsk Hydro ASA (OTCMKTS:NHYDY) saw unusually-high trading volume on Monday . Approximately 868,140 shares traded hands during trading, an increase of 359% from the previous session’s volume of 188,991 shares.The stock last traded at $11.46 and had previously closed at $11.21.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NHYDY. Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday, February 27th. The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Citigroup upgraded shares of Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research note on Monday, February 23rd. Morgan Stanley reissued an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. Finally, Zacks Research upgraded Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Norsk Hydro ASA Trading Up 1.7%

The stock has a market capitalization of $22.55 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $10.22 and a 200-day moving average price of $8.66.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. As a group, equities analysts forecast that Norsk Hydro ASA will post 1.19 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.