Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Up – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.02, but opened at $9.44. Norsk Hydro ASA shares last traded at $9.1370, with a volume of 5,491 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NHYDY. Zacks Research raised Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating on shares of Norsk Hydro ASA in a research report on Tuesday, May 26th. Finally, Pareto Securities lowered shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

The stock has a 50 day moving average of $9.50 and a 200-day moving average of $10.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. The company has a market cap of $18.00 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. Equities analysts predict that Norsk Hydro ASA will post 0.93 earnings per share for the current year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.