Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Drops By 36.7%

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

Norsk Hydro ASA Trading Down 0.3%

Shares of OTCMKTS:NHYDY traded down $0.03 during trading hours on Wednesday, hitting $10.85. 13,516 shares of the company’s stock traded hands, compared to its average volume of 178,912. The firm has a market capitalization of $21.47 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 0.72 and a beta of 0.98. The business has a fifty day moving average price of $11.63 and a 200-day moving average price of $9.72. Norsk Hydro ASA has a 1 year low of $5.42 and a 1 year high of $13.02. 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 (OTCMKTS:NHYDY) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a return on equity of 10.52% and a net margin of 3.11%.The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.42 billion. Equities analysts expect that Norsk Hydro ASA will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NHYDY. Pareto Securities lowered Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Danske cut Norsk Hydro ASA from a “hold” rating to a “sell” rating in a report on Friday, April 17th. Royal Bank Of Canada upgraded Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 20th. UBS Group lowered shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. Finally, Wall Street Zen cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Company Profile

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.