Norsk Hydro ASA (OTCMKTS:NHYDY) Short Interest Update

Key Points

• Norsk Hydro ASA experienced a significant 59.9% drop in short interest in September, with a total of 65,800 shares as of September 30th.
• The company's last earnings report showed earnings per share of $0.16, exceeding analysts' estimates of $0.07, with a total revenue of $5.23 billion.
• Equity analysts have recently revised their ratings, with Barclays and Kepler Capital Markets both lowering their ratings to "hold," resulting in an average rating of "hold" across the stock.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 65,800 shares, a drop of 59.9% from the September 15th total of 164,000 shares. Based on an average daily trading volume, of 133,300 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 133,300 shares, the short-interest ratio is currently 0.5 days.

Norsk Hydro ASA Price Performance

Shares of NHYDY stock opened at $6.96 on Friday. Norsk Hydro ASA has a 1-year low of $4.50 and a 1-year high of $7.08. The stock's 50-day moving average is $6.68 and its 200 day moving average is $5.98. The company has a market cap of $13.77 billion, a P/E ratio of 15.47, a PEG ratio of 0.32 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.92 and a quick ratio of 1.27.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Kepler Capital Markets lowered Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Citigroup restated a "neutral" rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. Morgan Stanley restated an "overweight" rating on shares of Norsk Hydro ASA in a research note on Wednesday, October 8th. Finally, Pareto Securities lowered Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold".

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.

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