Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Declines By 53.7%

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 24,900 shares, a decrease of 53.7% from the May 15th total of 53,800 shares. Based on an average daily volume of 185,600 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Norsk Hydro ASA Price Performance

Shares of Norsk Hydro ASA stock traded down $0.04 on Tuesday, hitting $5.63. 68,352 shares of the company traded hands, compared to its average volume of 209,474. The firm's 50-day simple moving average is $5.40 and its 200 day simple moving average is $5.70. The company has a current ratio of 1.60, a quick ratio of 1.07 and a debt-to-equity ratio of 0.23. The company has a market cap of $11.30 billion, a P/E ratio of 20.83, a P/E/G ratio of 0.26 and a beta of 1.49. Norsk Hydro ASA has a 12-month low of $4.50 and a 12-month high of $6.62.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). Norsk Hydro ASA had a net margin of 2.79% and a return on equity of 8.68%. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $57.46 billion. Analysts expect that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.

Norsk Hydro ASA Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.1442 per share. This represents a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Norsk Hydro ASA's dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NHYDY. The Goldman Sachs Group cut shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 10th. Royal Bank of Canada upgraded shares of Norsk Hydro ASA from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 17th.

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.