Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Up – Here’s Why

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) gapped up before the market opened on Monday . The stock had previously closed at $9.48, but opened at $10.06. Norsk Hydro ASA shares last traded at $10.06, with a volume of 1,777 shares trading hands.

Analyst Ratings Changes

NHYDY has been the topic of several analyst reports. Zacks Research lowered Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Finally, Pareto Securities downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Performance

The firm has a fifty day moving average price of $9.30 and a 200 day moving average price of $10.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.14 and a current ratio of 1.91. The stock has a market cap of $19.94 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced 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 for the quarter, compared to the consensus estimate of $5.74 billion. Research analysts forecast that Norsk Hydro ASA will post 0.91 earnings per share 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.