Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Significant Growth in Short Interest

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 173,828 shares, an increase of 384.3% from the August 15th total of 35,890 shares. Based on an average daily volume of 256,028 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the shares of the company are short sold.

Norsk Hydro ASA Stock Performance

NHYDY traded down $0.35 during trading on Friday, reaching $9.51. The company’s stock had a trading volume of 474,746 shares, compared to its average volume of 239,092. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. The company’s fifty day moving average price is $9.46 and its 200-day moving average price is $10.24. Norsk Hydro ASA has a 52-week low of $6.49 and a 52-week high of $13.02. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on NHYDY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. Zacks Research raised Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Pareto Securities downgraded Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, Citigroup reiterated a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.