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

Norsk Hydro ASA (OTCMKTS:NHYDY) 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 traded.

Wall Street Analysts Forecast Growth

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

Norsk Hydro ASA Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.07 and a current ratio of 1.60. The firm has a market capitalization of $11.07 billion, a P/E ratio of 91.83, a price-to-earnings-growth ratio of 0.21 and a beta of 1.52. The business has a fifty day moving average of $6.10 and a 200-day moving average of $5.94.

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

About Norsk Hydro ASA

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.