Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 12-Month High – Here’s What Happened

Norsk Hydro ASA (OTCMKTS:NHYDY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.42 and last traded at $8.34, with a volume of 13886 shares trading hands. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, December 16th. Pareto Securities downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Danske raised shares of Norsk Hydro ASA to a “hold” rating in a research note on Monday, October 27th. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a research report on Friday, September 26th. Finally, Zacks Research raised Norsk Hydro ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Norsk Hydro ASA Stock Down 0.2%

The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.25 and a beta of 1.15. The business has a fifty day moving average of $7.55 and a 200 day moving average of $6.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Norsk Hydro ASA had a return on equity of 10.20% and a net margin of 4.96%.The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $47.19 billion. As a group, equities analysts predict that Norsk Hydro ASA will post 0.72 earnings per share 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.