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

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) gapped down prior to trading on Friday . The stock had previously closed at $11.56, but opened at $10.76. Norsk Hydro ASA shares last traded at $11.0150, with a volume of 16,879 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NHYDY. UBS Group lowered Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Citigroup upgraded Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Friday, February 27th. Kepler Capital Markets lowered Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, Deutsche Bank Aktiengesellschaft lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

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 company has a 50-day moving average of $9.83 and a 200-day moving average of $8.37. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings results on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, topping 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 firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.82 billion. As a group, research analysts anticipate that Norsk Hydro ASA will post 0.72 EPS 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.