Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Drops By 41.6%

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 31,326 shares, a drop of 41.6% from the April 15th total of 53,674 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 307,459 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several brokerages have recently commented on NHYDY. Kepler Capital Markets downgraded shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Pareto Securities raised shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Wall Street Zen downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Friday, February 27th. Zacks Research raised shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Norsk Hydro ASA currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Performance

Shares of NHYDY stock opened at $11.44 on Tuesday. The firm has a 50 day moving average of $10.67 and a 200-day moving average of $8.98. Norsk Hydro ASA has a 52 week low of $5.37 and a 52 week high of $11.84. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.42 billion. On average, equities analysts forecast that Norsk Hydro ASA will post 1.19 earnings per share for the current 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.