Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Down 98.9% in July

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 6,691 shares, a drop of 98.9% from the July 15th total of 589,746 shares. Based on an average daily trading volume, of 855,668 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages recently commented on NHYDY. Danske cut Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Pareto Securities cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Norsk Hydro ASA presently has an average rating of “Hold”.

Norsk Hydro ASA Trading Down 0.2%

Shares of OTCMKTS NHYDY opened at $9.72 on Thursday. Norsk Hydro ASA has a 1-year low of $6.20 and a 1-year high of $13.02. The company has a 50-day moving average of $9.67 and a two-hundred day moving average of $10.12. The company has a market cap of $19.23 billion, a PE ratio of 18.62, a P/E/G ratio of 1.77 and a beta of 1.02. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 12.01%. As a group, equities analysts expect that Norsk Hydro ASA will post 0.9 earnings per share for the current fiscal year.

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.