Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 52-Week High – Time to Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price hit a new 52-week high on Wednesday . The company traded as high as $9.6950 and last traded at $9.63, with a volume of 23219 shares. The stock had previously closed at $9.42.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Danske upgraded Norsk Hydro ASA to a “hold” rating in a research report on Monday, October 27th. BNP Paribas Exane upgraded shares of Norsk Hydro ASA to an “outperform” rating in a report on Friday, December 5th. Wall Street Zen lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Norsk Hydro ASA currently has a consensus rating of “Hold”.

Norsk Hydro ASA Trading Down 3.2%

The company has a market capitalization of $18.00 billion, a P/E ratio of 17.50, a P/E/G ratio of 0.29 and a beta of 1.15. The company has a 50-day simple moving average of $8.28 and a 200 day simple moving average of $7.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.25 and a current ratio of 1.91.

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.