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

Norsk Hydro ASA (OTCMKTS:NHYDY) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 6,691 shares, a drop of 98.9% from the July 15th total of 589,746 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 855,668 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NHYDY shares. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. Pareto Securities cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Finally, Danske downgraded shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Down 2.0%

OTCMKTS:NHYDY opened at $9.74 on Wednesday. The firm has a market capitalization of $19.27 billion, a P/E ratio of 18.66, a PEG ratio of 1.80 and a beta of 1.02. The company’s fifty day moving average price is $9.73 and its 200-day moving average price is $10.11. Norsk Hydro ASA has a 1-year low of $6.20 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 data on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Norsk Hydro ASA had a return on equity of 12.01% and a net margin of 4.90%.The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. As a group, equities research analysts anticipate that Norsk Hydro ASA will post 0.9 EPS for the current 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.