Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Large Increase in Short Interest

Norsk Hydro ASA (OTCMKTS:NHYDY) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 54,038 shares, a growth of 123.1% from the June 15th total of 24,219 shares. Based on an average daily volume of 495,099 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Norsk Hydro ASA Stock Performance

Shares of NHYDY opened at $8.79 on Friday. The company has a market capitalization of $17.39 billion, a PE ratio of 28.17, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.73. The company’s 50 day moving average price is $10.70 and its 200 day moving average price is $9.98. Norsk Hydro ASA has a 52 week low of $5.85 and a 52 week high of $13.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. Research analysts expect that Norsk Hydro ASA will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NHYDY. UBS Group downgraded shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley reiterated an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Danske downgraded Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. Finally, Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Norsk Hydro ASA presently has a consensus rating of “Hold”.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.