Norwegian Air Shuttle ASA (OTCMKTS:NWARF) Sees Large Decline in Short Interest

Norwegian Air Shuttle ASA (OTCMKTS:NWARF) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 1,129,791 shares, a drop of 41.3% from the June 15th total of 1,923,119 shares. Based on an average daily trading volume, of 6,423 shares, the short-interest ratio is currently 175.9 days.

Norwegian Air Shuttle ASA Price Performance

NWARF stock remained flat at $1.30 on Friday. The company had a trading volume of 1,228 shares, compared to its average volume of 4,920. The company has a fifty day moving average of $1.56 and a two-hundred day moving average of $1.59. Norwegian Air Shuttle ASA has a 52-week low of $1.30 and a 52-week high of $1.86.

Analysts Set New Price Targets

Separately, Pareto Securities upgraded shares of Norwegian Air Shuttle ASA to a “buy” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Norwegian Air Shuttle ASA Company Profile

Norwegian Air Shuttle ASA (OTCMKTS:NWARF) is a low-cost airline headquartered near Oslo, Norway. Established in 1993 as an air taxi and charter operator, the company transitioned to a budget carrier model in the early 2000s. Today, Norwegian Air Shuttle is one of the largest airlines in the Nordic region, offering scheduled passenger services that compete on price and efficiency with legacy carriers across Europe.

The airline’s core business centers on short-haul and medium-haul flights, operating a homogeneous fleet of Boeing 737 aircraft designed to optimize turnaround times and minimize operating costs.