Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Up 436.4% in August

Norsk Hydro ASA (OTCMKTS:NHYDY) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 35,890 shares, an increase of 436.4% from the July 30th total of 6,691 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 225,483 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

Several research firms have commented on NHYDY. Citigroup reiterated a “neutral” rating on shares of Norsk Hydro ASA in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a report on Thursday, July 2nd. Zacks Research cut shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Norsk Hydro ASA Price Performance

NHYDY stock opened at $9.93 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 0.26. Norsk Hydro ASA has a twelve month low of $6.38 and a twelve month high of $13.02. The company’s 50 day moving average is $9.28 and its two-hundred day moving average is $10.18. The stock has a market cap of $19.65 billion, a P/E ratio of 19.02, a PEG ratio of 1.77 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last issued its earnings results 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. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 11.46%. Research analysts expect that Norsk Hydro ASA will post 0.91 earnings per share for the current fiscal 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.