Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – What’s Next?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw strong trading volume on Friday . 487,088 shares were traded during trading, an increase of 123% from the previous session’s volume of 218,155 shares.The stock last traded at $9.30 and had previously closed at $9.18.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NHYDY shares. Wall Street Zen cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group downgraded Norsk Hydro ASA from a “buy” rating to a “sell” rating in a research report on Monday, February 16th. Citigroup raised Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research report on Monday, February 23rd. BNP Paribas Exane raised Norsk Hydro ASA to an “outperform” rating in a report on Friday, December 5th. Finally, Zacks Research cut Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Up 1.0%

The stock has a market capitalization of $18.34 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.25. The stock has a fifty day moving average price of $8.62 and a 200 day moving average price of $7.51.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Friday, February 13th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Norsk Hydro ASA had a return on equity of 9.44% and a net margin of 3.06%.The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.82 billion. On average, research analysts forecast that Norsk Hydro ASA will post 0.72 earnings per share for the current year.

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.