Zacks Investment Research Downgrades Norsk Hydro ASA (NHYDY) to Sell

Norsk Hydro ASA (OTCMKTS:NHYDY) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Saturday.

According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “

A number of other analysts also recently issued reports on NHYDY. Credit Suisse Group raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 26th. BNP Paribas raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 6th. Finally, ValuEngine raised shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Norsk Hydro ASA presently has an average rating of “Buy” and a consensus target price of $8.25.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) opened at 7.78 on Friday. The firm has a 50-day moving average of $7.50 and a 200 day moving average of $6.37. Norsk Hydro ASA has a 12 month low of $4.39 and a 12 month high of $7.93. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 22.88 and a beta of 0.89.

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