Norsk Hydro ASA (OTCMKTS:NHYDY) Shares Shorted: Short Interest Down 93.0% in September

Key Points

• Short interest plunged 93% in September to 17,591 shares, representing roughly 0.0% of outstanding shares and only 0.1 days of average trading volume.
• Norsk Hydro shares traded at $8.19, down slightly, with the stock below both its 50-day and 200-day moving averages. The company has a $16.2 billion market capitalization and a 52-week trading range of $6.49 to $13.02.
• The company beat quarterly earnings and revenue estimates, but analysts remain cautious: Norsk Hydro has a consensus “Hold” rating, with seven analysts at Hold compared with three at Buy or Strong Buy and one at Sell.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 17,591 shares, a decrease of 93.0% from the September 15th total of 252,719 shares. Based on an average trading volume of 278,373 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Norsk Hydro ASA Trading Down 0.1%

Shares of NHYDY stock traded down $0.01 during trading on Friday, hitting $8.19. 933,616 shares of the stock traded hands, compared to its average volume of 200,374. Norsk Hydro ASA has a 52-week low of $6.49 and a 52-week high of $13.02. The firm has a market capitalization of $16.20 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. The firm's fifty day moving average price is $9.37 and its 200-day moving average price is $10.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.21.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.74 billion. Norsk Hydro ASA had a return on equity of 11.46% and a net margin of 4.90%. As a group, research analysts forecast that Norsk Hydro ASA will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NHYDY. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. Pareto Securities cut Norsk Hydro ASA from a "buy" rating to a "hold" rating in a report on Thursday, June 11th. Zacks Research upgraded Norsk Hydro ASA from a "strong sell" rating to a "hold" rating in a research report on Friday, September 4th. Finally, Danske raised Norsk Hydro ASA from a "sell" rating to a "hold" rating in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Norsk Hydro ASA has a consensus rating of "Hold".

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norway-based industrial company focused primarily on aluminum and renewable energy. Founded in 1905 and headquartered in Oslo, Hydro operates across the aluminum value chain, from bauxite mining and alumina refining to primary aluminum production, recycling, and the manufacture of finished and semi-finished aluminum products.

The company's businesses include bauxite and alumina operations, primary metal production, aluminum recycling, metal sales, and extrusion. Through its extrusion activities, Hydro supplies aluminum profiles and components used in industries such as construction, transportation, automotive, and consumer products.

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