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

Norsk Hydro ASA logo with Basic Materials background

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.

Read Our Latest Report on NHYDY

About Norsk Hydro ASA

(Get Free Report)

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.

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