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

Norsk Hydro ASA (OTCMKTS:NHYDY) was the recipient of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 63,836 shares, an increase of 256.3% from the October 15th total of 17,915 shares. Currently, 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NHYDY shares. Zacks Research cut shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. Danske raised shares of Norsk Hydro ASA from a “sell” rating to a “hold” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Norsk Hydro ASA has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Down 1.1%

Shares of Norsk Hydro ASA stock traded down $0.08 during trading on Thursday, hitting $7.25. 366,306 shares of the stock traded hands, compared to its average volume of 271,225. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $8.35 and its 200 day simple moving average is $9.66. The firm has a market cap of $14.34 billion, a P/E 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.

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

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.