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

Key Points

• Norsk Hydro ASA experienced a significant decrease in short interest, down 32.1% in August, bringing total short interest to 130,200 shares.
• The company's latest quarterly earnings showed an EPS of $0.16, exceeding expectations of $0.07, with a revenue of $5.23 billion.
• Analysts have varied ratings on Norsk Hydro ASA, with a consensus rating of "Moderate Buy", supported by one "Strong Buy," one "Buy," and three "Hold" ratings.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 130,200 shares, a decline of 32.1% from the August 15th total of 191,800 shares. Based on an average daily volume of 136,300 shares, the short-interest ratio is presently 1.0 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 136,300 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

NHYDY has been the subject of several analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Norsk Hydro ASA in a research note on Monday, July 14th. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a "neutral" rating on shares of Norsk Hydro ASA in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Norsk Hydro ASA Trading Down 2.0%

NHYDY stock traded down $0.14 during mid-day trading on Friday, hitting $6.69. 130,103 shares of the company were exchanged, compared to its average volume of 60,803. The firm has a market capitalization of $13.23 billion, a P/E ratio of 14.86, a PEG ratio of 0.32 and a beta of 1.48. Norsk Hydro ASA has a 12-month low of $4.50 and a 12-month high of $6.95. The company has a quick ratio of 1.27, a current ratio of 1.92 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $6.38 and a 200-day simple moving average of $5.89.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. The business had revenue of $5.23 billion for the quarter, compared to analysts' expectations of $51.63 billion. Norsk Hydro ASA had a net margin of 4.37% and a return on equity of 11.24%. On average, equities research analysts predict that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.

About Norsk Hydro ASA

Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments.