Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Up 384.3% in August

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 173,828 shares, a growth of 384.3% from the August 15th total of 35,890 shares. Based on an average trading volume of 256,028 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the shares of the stock are short sold.

Norsk Hydro ASA Trading Down 4.3%

Shares of OTCMKTS NHYDY traded down $0.43 during mid-day trading on Friday, hitting $9.43. The stock had a trading volume of 23,381 shares, compared to its average volume of 253,970. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.21 and a current ratio of 1.91. Norsk Hydro ASA has a 1 year low of $6.49 and a 1 year high of $13.02. The business has a 50 day moving average price of $9.44 and a two-hundred day moving average price of $10.25. The firm has a market cap of $18.66 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.03.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. On average, equities analysts anticipate that Norsk Hydro ASA will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

NHYDY has been the subject of a number of recent research reports. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Zacks Research upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Friday, September 4th. Pareto Securities cut shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norway-based industrial company focused on aluminum and renewable energy. Its operations span the aluminum value chain, including bauxite mining, alumina refining, primary aluminum production, recycling, and the development of extruded aluminum products and solutions. The company supplies aluminum for applications in industries such as automotive, construction, packaging, consumer products and renewable energy.

Hydro also produces and manages renewable power, primarily through hydropower operations in Norway.