Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Significant Drop in Short Interest

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a significant drop in short interest in 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 volume of 165,900 shares, the days-to-cover ratio is presently 0.3 days.

Norsk Hydro ASA Stock Performance

Shares of OTCMKTS:NHYDY traded up $0.45 on Friday, hitting $6.29. The company’s stock had a trading volume of 168,372 shares, compared to its average volume of 105,192. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 104.83, a price-to-earnings-growth ratio of 0.20 and a beta of 1.54. 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 has a 12 month low of $4.95 and a 12 month high of $6.98. The stock’s 50-day moving average is $6.10 and its two-hundred day moving average is $6.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its 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. Norsk Hydro ASA had a net margin of 0.69% and a return on equity of 7.03%. The firm had revenue of $4.68 billion during the quarter. On average, equities research analysts forecast that Norsk Hydro ASA will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.