Norsk Hydro ASA (OTCMKTS:NHYDY) Stock Short Interest Drops 93.0%

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 17,591 shares, a decrease of 93.0% from the September 15th total of 252,719 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 278,373 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NHYDY. Zacks Research upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a report on Friday, September 4th. Danske upgraded Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Norsk Hydro ASA currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Down 0.1%

NHYDY stock traded down $0.01 during midday trading on Friday, hitting $8.19. The company’s stock had a trading volume of 933,616 shares, compared to its average volume of 200,374. The company’s fifty day moving average price is $9.37 and its 200 day moving average price is $10.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.21. Norsk Hydro ASA has a twelve month low of $6.49 and a twelve month high of $13.02. The stock has a market capitalization of $16.20 billion, a P/E ratio of 15.69, a PEG ratio of 1.49 and a beta of 1.10.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. The company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. As a group, equities research analysts predict that Norsk Hydro ASA will post 0.89 EPS for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norway-based industrial company focused primarily on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro operates across the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, recycling, and the manufacture of finished and semi-finished aluminum products.

The company’s businesses include bauxite and alumina operations, primary metal production, aluminum recycling, metal sales, and extrusion. Through its extrusion activities, Hydro supplies aluminum profiles and components used in industries such as construction, transportation, automotive, and consumer products.