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

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) gapped down before the market opened on Thursday . The stock had previously closed at $9.04, but opened at $8.61. Norsk Hydro ASA shares last traded at $8.76, with a volume of 43,963 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. UBS Group downgraded shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. Morgan Stanley reissued an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. Zacks Research downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Danske downgraded shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Norsk Hydro ASA presently has a consensus rating of “Hold”.

Norsk Hydro ASA Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $11.15 and a 200 day simple moving average of $9.89. The company has a market cap of $17.17 billion, a P/E ratio of 27.82, a P/E/G ratio of 0.58 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The business 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%. On average, 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.