Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Volume Increase – Still a Buy?

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) saw an uptick in trading volume on Friday . 556,532 shares changed hands during trading, an increase of 122% from the previous session’s volume of 250,683 shares.The stock last traded at $10.1737 and had previously closed at $10.32.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Pareto Securities lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.78 and a beta of 1.03. The stock has a fifty day moving average price of $9.32 and a 200-day moving average price of $10.20.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. On average, analysts expect that Norsk Hydro ASA will post 0.91 earnings per share for the current fiscal 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.