Norsk Hydro ASA (OTCMKTS:NHYDY) Stock Price Down 6% – Here’s Why

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price was down 6% during mid-day trading on Friday . The company traded as low as $8.64 and last traded at $8.84. Approximately 123,012 shares changed hands during trading, a decline of 47% from the average daily volume of 233,130 shares. The stock had previously closed at $9.40.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Zacks Research lowered Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Norsk Hydro ASA in a research report on Tuesday, December 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Norsk Hydro ASA in a research note on Friday, November 21st. Finally, Danske upgraded shares of Norsk Hydro ASA to a “hold” rating in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Down 3.0%

The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $8.28 and a two-hundred day simple moving average of $7.28. The company has a market capitalization of $18.04 billion, a PE ratio of 17.54, a P/E/G ratio of 0.29 and a beta of 1.15.

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.