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

by · The Cerbat Gem

Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report) 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 – Get Free Report) 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.

Check Out Our Latest Analysis on NHYDY

About Norsk Hydro ASA

(Get Free Report)

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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