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

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $10.24, but opened at $9.44. Norsk Hydro ASA shares last traded at $9.4750, with a volume of 3,386 shares trading hands.

Wall Street Analysts Forecast Growth

NHYDY has been the topic of a number of recent research reports. Zacks Research raised shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Pareto Securities cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Thursday, June 11th. Citigroup reiterated a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Performance

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 cap of $18.80 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.83 and a beta of 1.03. The stock’s fifty day moving average price is $9.44 and its two-hundred day moving average price is $10.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%.The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. As a group, equities analysts predict that Norsk Hydro ASA will post 0.91 earnings per share for the current year.

About Norsk Hydro ASA

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.