Do Traders Think Norsk Hydro ASA (NHYDY) Can Keep Climbing Friday?

The market has been high on Norsk Hydro ASA (NHYDY) stock recently. NHYDY gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Norsk Hydro ASA has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on NHYDY!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With NHYDY Stock Today?

Norsk Hydro ASA (NHYDY) stock is down -1.25% while the S&P 500 has risen 0.36% as of 2:27 PM on Friday, Mar 24. NHYDY is lower by -$0.09 from the previous closing price of $6.99 on volume of 66,556 shares. Over the past year the S&P 500 is lower by -11.07% while NHYDY is lower by -35.27%. NHYDY earned $1.44 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 4.78.

More About Norsk Hydro ASA

Norsk Hydro ASA is an aluminium and renewable energy company committed to a sustainable future. It's engaged in energy to bauxite mining and alumina refining, primary aluminium, aluminium extrusions, and aluminium recycling. The company's reportable segments are Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Extrusions, and Hydro Energy, as well as the Hydro Metal Markets activities. Hydro Extrusions delivers products within extrusion profiles, building systems, and precision tubing, and is operating several recycling facilities, both integrated with its extrusion plants and separate plants. Hydro Extrusions are present in about 40 countries. It is delivered to sectors such as construction, automotive and heating, etc. Key revenue comes from the Hydro Extrusions segment. Click Here to get the full Stock Report for Norsk Hydro ASA stock.