Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Down 36.7% in May

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 41,739 shares, a drop of 36.7% from the May 14th total of 65,890 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 258,162 shares, the short-interest ratio is currently 0.2 days.

Norsk Hydro ASA Price Performance

Shares of NHYDY traded up $0.06 during midday trading on Tuesday, reaching $10.86. The stock had a trading volume of 30,405 shares, compared to its average volume of 179,316. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The company’s 50-day moving average is $11.63 and its 200 day moving average is $9.69. Norsk Hydro ASA has a 12-month low of $5.42 and a 12-month high of $13.02.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NHYDY shares. Wall Street Zen cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday, February 27th. The Goldman Sachs Group raised Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada raised shares of Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research note on Friday, March 20th. Kepler Capital Markets cut shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.