Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Grows By 384.3%

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 173,828 shares, a growth of 384.3% from the August 15th total of 35,890 shares. Based on an average daily trading volume, of 256,028 shares, the short-interest ratio is presently 0.7 days. Approximately 0.0% of the company’s shares are short sold.

Norsk Hydro ASA Price Performance

Shares of OTCMKTS NHYDY traded down $0.35 during mid-day trading on Friday, reaching $9.51. The company had a trading volume of 474,746 shares, compared to its average volume of 239,092. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. Norsk Hydro ASA has a one year low of $6.49 and a one year high of $13.02. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.76 and a beta of 1.03. The business’s 50-day simple moving average is $9.46 and its 200 day simple moving average is $10.24.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.74 billion. On average, research analysts predict that Norsk Hydro ASA will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NHYDY has been the subject of a number of analyst reports. Pareto Securities cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.