Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Rises By 123.1%

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 54,038 shares, a growth of 123.1% from the June 15th total of 24,219 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 495,099 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NHYDY. Morgan Stanley reissued an “equal weight” rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. Royal Bank Of Canada upgraded shares of Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 20th. 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Finally, Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Trading Down 2.2%

OTCMKTS NHYDY traded down $0.20 on Wednesday, hitting $9.06. 258,994 shares of the company were exchanged, compared to its average volume of 227,055. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.14. Norsk Hydro ASA has a twelve month low of $5.82 and a twelve month high of $13.02. The firm has a market capitalization of $17.92 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.02. The company’s 50 day moving average price is $10.80 and its 200-day moving average price is $9.97.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. Analysts predict that Norsk Hydro ASA will post 0.99 earnings per share for the current fiscal year.

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.