Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Update

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 35,890 shares, an increase of 436.4% from the July 30th total of 6,691 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 225,483 shares, the days-to-cover ratio is presently 0.2 days.

Norsk Hydro ASA Trading Down 1.1%

NHYDY traded down $0.11 during trading on Wednesday, reaching $9.97. 25,882 shares of the company’s stock were exchanged, compared to its average volume of 246,105. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 0.26. Norsk Hydro ASA has a one year low of $6.38 and a one year high of $13.02. The firm has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $10.17. The stock has a market capitalization of $19.73 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. As a group, equities research analysts forecast that Norsk Hydro ASA will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NHYDY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Pareto Securities downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. Zacks Research cut Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.