Norsk Hydro Shares

Norsk Hydro (NHY.NO) is a Norwegian multinational company operating in the aluminum and renewable energy sectors, with a market capitalization of $13.49 billion as of July 31, 2023. Founded in 1905, it has a long and storied history in the aluminum industry. The company was established as Norsk hydro-elektrisk Kvælstofaktieselskab to utilize Norway's hydropower resources for fertilizer production.

Over the years, it expanded its operations into aluminum production and diversified into renewable energy. Norsk Hydro is now a leading global aluminum producer, involved in various parts of the aluminum value chain, from bauxite mining to recycling. It also generates hydropower and operates as a significant player in the renewable energy sector. It went public in 1907 and continues to be a major player in the aluminum and energy markets.

Within the past five years, Norsk Hydro (NHY.NO) has experienced a series of highs and lows in its share price history. In March 2020, the stock reached its lowest price of 19.14 NOK, which many attribute to the worldwide economic slowdown due to the coronavirus pandemic. Fast forward to April 2022, and the stock's price had risen to its highest price of 94.82 NOK. The growth was fueled by the rising demand for aluminum globally and an uptick in the processing of aluminum products by the company.

To capture the best opportunities, traders need to utilize various strategies and tools when analyzing the stock. One such strategy is the technical analysis. As a trader, you may use technical indicators such as moving averages, relative strength index (RSI) and the stochastic indicator, among others. These tools help investors and traders’ forecast future price trends based on past price movements.

Anyone interested in trading Norsk Hydro stock should always consider the company’s competitors. Knowing the market competition will help you understand the industry dynamics, supply and demand, and pricing pressures. They include:

• Rio Tinto Group (RIO.US) is a British-Australian multinational mining company specializing in iron ore, aluminum, copper, diamonds, and other minerals. It is one of the world's leading mining companies with a significant global presence. It is known for its large-scale mining operations and diverse portfolio of commodities.
• Alcoa Corporation (AA.US) is a leading American aluminum producer. As one of the world's largest aluminum producers, Alcoa operates in the mining, refining, and production of aluminum products. The company serves various industries, including aerospace, automotive, and packaging, offering a wide range of high-quality aluminum products.