Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Gap Down – Time to Sell?

Norsk Hydro ASA (OTCMKTS:NHYDY) shares gapped down prior to trading 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.

Analysts Set New Price Targets

Several brokerages recently commented on NHYDY. UBS Group lowered shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Zacks Research upgraded shares of Norsk Hydro ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. Royal Bank Of Canada upgraded Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a report on Friday, March 20th. Finally, Wall Street Zen lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Performance

The stock’s 50-day moving average is $11.54 and its 200-day moving average is $9.82. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 0.67 and a beta of 0.98. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.42 billion. On average, analysts expect 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.