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

Norsk Hydro ASA (OTCMKTS:NHYDY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.1050, but opened at $9.19. Norsk Hydro ASA shares last traded at $9.2470, with a volume of 19,426 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NHYDY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research report on Tuesday, June 2nd. The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. Citigroup reaffirmed a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Norsk Hydro ASA Trading Down 3.1%

The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 0.67 and a beta of 0.98. The firm’s 50 day moving average is $11.54 and its two-hundred day moving average is $9.82. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued 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 firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%. Equities analysts anticipate that Norsk Hydro ASA will post 1.19 EPS for the current 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.