Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Shorted: Short Interest Down 93.0% in September

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 17,591 shares, a decline of 93.0% from the September 15th total of 252,719 shares. Based on an average daily trading volume, of 278,373 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research raised Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Danske upgraded Norsk Hydro ASA from a “sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Down 0.1%

Norsk Hydro ASA stock traded down $0.01 during mid-day trading on Friday, reaching $8.19. 933,616 shares of the company’s stock were exchanged, compared to its average volume of 200,374. The company has a market cap of $16.20 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.48 and a beta of 1.10. Norsk Hydro ASA has a twelve month low of $6.49 and a twelve month high of $13.02. 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 company has a fifty day moving average of $9.37 and a 200-day moving average of $10.15.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, beating the consensus estimate 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. Sell-side analysts expect that Norsk Hydro ASA will post 0.89 EPS for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norway-based industrial company focused primarily on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro operates across the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, recycling, and the manufacture of finished and semi-finished aluminum products.

The company’s businesses include bauxite and alumina operations, primary metal production, aluminum recycling, metal sales, and extrusion. Through its extrusion activities, Hydro supplies aluminum profiles and components used in industries such as construction, transportation, automotive, and consumer products.