Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw an uptick in trading volume on Monday . 287,350 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 212,070 shares.The stock last traded at $8.90 and had previously closed at $8.78.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Zacks Research downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. The Goldman Sachs Group upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Pareto Securities cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Thursday, June 11th. Royal Bank Of Canada raised shares of Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 20th. 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, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Norsk Hydro ASA currently has an average rating of “Hold”.

Norsk Hydro ASA Trading Up 1.3%

The stock has a 50-day simple moving average of $10.90 and a two-hundred day simple moving average of $9.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.73. The firm has a market cap of $17.59 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.45 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.42 billion. As a group, sell-side analysts anticipate that Norsk Hydro ASA will post 0.99 EPS for the current 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.