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

Norsk Hydro ASA (OTCMKTS:NHYDY) 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.

Norsk Hydro ASA Trading Up 2.3 %

OTCMKTS NHYDY traded up $0.12 during trading hours on Friday, hitting $5.45. 236,099 shares of the company were exchanged, compared to its average volume of 202,153. The stock has a 50-day moving average price of $5.58 and a 200 day moving average price of $5.91. Norsk Hydro ASA has a 52 week low of $4.95 and a 52 week high of $6.98. The stock has a market cap of $10.95 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 0.18 and a beta of 1.53. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.28.

Norsk Hydro ASA (OTCMKTS:NHYDY) 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.