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

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 63,836 shares, a growth of 256.3% from the October 15th total of 17,915 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 803,545 shares, the short-interest ratio is currently 0.1 days.

Norsk Hydro ASA Trading Down 1.1%

Norsk Hydro ASA stock traded down $0.08 during midday trading on Thursday, reaching $7.25. The stock had a trading volume of 366,306 shares, compared to its average volume of 271,225. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 6.43 and a beta of 1.17. Norsk Hydro ASA has a 52-week low of $6.74 and a 52-week high of $13.02. The company has a fifty day moving average of $8.35 and a 200 day moving average of $9.66.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Friday, October 23rd. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Norsk Hydro ASA had a return on equity of 13.82% and a net margin of 6.41%. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.72 billion. On average, analysts anticipate that Norsk Hydro ASA will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on NHYDY shares. Danske upgraded Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday, September 28th. Zacks Research lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company focused on aluminum and renewable energy. Its operations span much of the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, metal recycling, and the manufacture of aluminum products. The company supplies aluminum for applications in industries such as transportation, construction, packaging, and manufacturing. Its product activities include rolled and extruded aluminum, while its energy operations generate and supply renewable power that supports its industrial businesses and external customers.