Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Drops By 24.1%

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 44,000 shares, a drop of 24.1% from the October 15th total of 58,000 shares. Based on an average daily trading volume, of 165,900 shares, the days-to-cover ratio is presently 0.3 days.

Norsk Hydro ASA Stock Performance

Shares of NHYDY traded up $0.06 during trading hours on Friday, hitting $5.84. The stock had a trading volume of 92,740 shares, compared to its average volume of 104,892. The firm has a 50-day moving average price of $6.06 and a 200 day moving average price of $6.03. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 0.19 and a beta of 1.54. Norsk Hydro ASA has a fifty-two week low of $4.95 and a fifty-two week high of $6.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.88.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $4.68 billion during the quarter. Norsk Hydro ASA had a return on equity of 7.03% and a net margin of 0.69%. As a group, research analysts anticipate that Norsk Hydro ASA will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Barclays raised Norsk Hydro ASA to a “strong-buy” rating in a research report on Wednesday, October 16th.

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.