Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 52-Week High – Should You Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.85 and last traded at $11.85, with a volume of 8697 shares. The stock had previously closed at $11.58.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NHYDY shares. Morgan Stanley reiterated an “equal weight” rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. Citigroup downgraded shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Friday, February 27th. Pareto Securities upgraded shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Finally, Zacks Research upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

The company has a market cap of $23.74 billion, a PE ratio of 38.46, a P/E/G ratio of 0.74 and a beta of 0.96. 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 stock’s 50-day simple moving average is $10.75 and its 200 day simple moving average is $9.04.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. As a group, equities analysts anticipate that Norsk Hydro ASA will post 1.19 EPS 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.