Norsk Hydro ASA (OTCMKTS:NHYDY) Share Price Passes Below 50 Day Moving Average – Here’s Why

Norsk Hydro ASA (OTCMKTS:NHYDY)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.10 and traded as low as $5.40. Norsk Hydro ASA shares last traded at $5.51, with a volume of 74,411 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NHYDY shares. Barclays upgraded Norsk Hydro ASA to a “strong-buy” rating in a research note on Wednesday, October 16th. Citigroup upgraded shares of Norsk Hydro ASA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th.

Norsk Hydro ASA Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.60 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $6.08 and a 200 day moving average of $5.94. The firm has a market cap of $11.09 billion, a P/E ratio of 92.00, a PEG ratio of 0.21 and a beta of 1.52.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its earnings results on Thursday, October 24th. The industrial products company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. Norsk Hydro ASA had a return on equity of 7.26% and a net margin of 0.69%. The business had revenue of $4.68 billion for the quarter. On average, sell-side analysts anticipate that Norsk Hydro ASA will post 0.55 earnings per share for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments.