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

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 17,591 shares, a drop 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 currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Norsk Hydro ASA Trading Down 0.1%

OTCMKTS:NHYDY traded down $0.01 on Friday, reaching $8.19. 933,616 shares of the company’s stock were exchanged, compared to its average volume of 200,374. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. The business has a fifty day moving average of $9.37 and a 200-day moving average of $10.15. Norsk Hydro ASA has a 52-week low of $6.49 and a 52-week high of $13.02.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on NHYDY shares. Zacks Research upgraded shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a report on Friday, September 4th. Danske raised Norsk Hydro ASA from a “sell” rating to a “hold” rating in a research report on Monday, September 28th. Pareto Securities cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Norsk Hydro ASA in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Norsk Hydro ASA presently has an average 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.