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

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a large growth in short interest during 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. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 256,028 shares, the short-interest ratio is presently 0.7 days.

Analysts Set New Price Targets

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

Norsk Hydro ASA Stock Down 4.3%

Shares of OTCMKTS:NHYDY traded down $0.43 during midday trading on Friday, reaching $9.43. The company’s stock had a trading volume of 23,381 shares, compared to its average volume of 253,970. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $9.44 and a 200-day moving average of $10.25. The firm has a market capitalization of $18.66 billion, a P/E ratio of 18.07, a PEG ratio of 1.83 and a beta of 1.03. Norsk Hydro ASA has a 12-month low of $6.49 and a 12-month high of $13.02.

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 (EPS) for the quarter, beating 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 analysts’ expectations of $5.74 billion. On average, research analysts anticipate that Norsk Hydro ASA will post 0.91 earnings per share for the current year.

About Norsk Hydro ASA

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.