Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Update

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant growth in short interest in 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. Based on an average trading volume of 495,099 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Norsk Hydro ASA Trading Down 4.1%

Norsk Hydro ASA stock traded down $0.38 during midday trading on Thursday, hitting $8.83. 358,650 shares of the stock were exchanged, compared to its average volume of 243,141. The company has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $9.98. Norsk Hydro ASA has a 52 week low of $5.85 and a 52 week high of $13.02. The stock has a market capitalization of $17.47 billion, a PE ratio of 28.29, a P/E/G ratio of 1.74 and a beta of 1.02. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. Equities research analysts anticipate that Norsk Hydro ASA will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on NHYDY. Zacks Research lowered Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a research report on Thursday, April 16th. UBS Group lowered shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. 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. Finally, Pareto Securities downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Norsk Hydro ASA currently has an average 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.