Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Drops By 41.6%

Norsk Hydro ASA (OTCMKTS:NHYDY) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 31,326 shares, a drop of 41.6% from the April 15th total of 53,674 shares. Based on an average daily volume of 307,459 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Norsk Hydro ASA Trading Down 1.4%

Shares of OTCMKTS:NHYDY traded down $0.16 during mid-day trading on Friday, hitting $11.33. The company had a trading volume of 78,364 shares, compared to its average volume of 177,916. The firm has a fifty day moving average price of $10.63 and a 200 day moving average price of $8.93. The company has a market capitalization of $22.42 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 0.75 and a beta of 0.96. 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 one year low of $5.37 and a one year high of $11.84.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. As a group, research analysts forecast that Norsk Hydro ASA will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NHYDY shares. Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. The Goldman Sachs Group upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Pareto Securities upgraded shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a report on Sunday, May 3rd. Finally, Wall Street Zen lowered shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from 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.