Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Grows By 329.5%

Key Points

• Short interest in Norsk Hydro ASA surged by 329.5% in July, reaching a total of 134,000 shares compared to the previous month's 31,200 shares.
• The company reported $0.16 EPS for the last quarter, exceeding analyst expectations of $0.07 EPS, while achieving a revenue of $5.23 billion.
• Norsk Hydro ASA's dividend yield was noted at 268.0% with a payout ratio of 33.33%, although the company has recently announced a dividend cut.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 134,000 shares, anincreaseof329.5% from the June 30th total of 31,200 shares. Based on an average daily trading volume, of 155,300 shares, the short-interest ratio is currently 0.9 days. Based on an average daily trading volume, of 155,300 shares, the short-interest ratio is currently 0.9 days.

Norsk Hydro ASA Stock Performance

Shares of OTCMKTS NHYDY opened at $6.01 on Friday. The firm has a fifty day moving average price of $5.79 and a 200-day moving average price of $5.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.65 and a quick ratio of 1.10. The stock has a market cap of $11.89 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.28 and a beta of 1.50. Norsk Hydro ASA has a 1 year low of $4.50 and a 1 year high of $6.62.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.09. The firm had revenue of $5.23 billion during 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 11.37%. Equities analysts anticipate 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 given a dividend of $0.1442 per share. The ex-dividend date was Tuesday, May 13th. This represents a dividend yield of 268.0%. Norsk Hydro ASA's dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Norsk Hydro ASA in a research note on Monday, July 14th. The Goldman Sachs Group downgraded shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 10th. Kepler Capital Markets cut shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised shares of Norsk Hydro ASA from a "hold" rating to a "moderate buy" rating in a report on Thursday, April 17th. Finally, Citigroup reissued a "neutral" rating on shares of Norsk Hydro ASA in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Norsk Hydro ASA Company Profile

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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