Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Down 6% – Time to Sell?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price dropped 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

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Norsk Hydro ASA in a research note on Friday, November 21st. BNP Paribas Exane raised Norsk Hydro ASA to an “outperform” rating in a research report on Friday, December 5th. Morgan Stanley reissued an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Norsk Hydro ASA currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

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 50-day moving average price of $8.28 and a 200 day moving average price of $7.28. The company has a market cap of $18.04 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.29 and a beta of 1.15.

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.