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

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price reached a new 52-week high during 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NHYDY shares. Pareto Securities upgraded Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. UBS Group downgraded Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research 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. Deutsche Bank Aktiengesellschaft downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Kepler Capital Markets downgraded Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Norsk Hydro ASA has an average rating of “Hold”.

Norsk Hydro ASA Stock Up 3.6%

The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 0.74 and a beta of 0.96. The business’s fifty day moving average is $10.75 and its two-hundred day 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. Equities analysts forecast that Norsk Hydro ASA will post 1.19 earnings per share for the current fiscal 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.