Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,700 shares, an increase of 881.3% from the August 15th total of 1,600 shares. Based on an average trading volume of 288,600 shares, the days-to-cover ratio is currently 0.1 days.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group raised Norsk Hydro ASA to a “strong-buy” rating in a report on Wednesday, June 12th.
View Our Latest Analysis on Norsk Hydro ASA
Norsk Hydro ASA Trading Up 2.3 %
Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). Norsk Hydro ASA had a net margin of 0.11% and a return on equity of 4.69%. The company had revenue of $4.88 billion during the quarter. Analysts forecast that Norsk Hydro ASA will post 0.57 earnings per share for the current fiscal year.
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.
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