Short Interest in Norsk Hydro ASA (OTCMKTS:NHYDY) Grows By 717.8%

Norsk Hydro ASA (OTCMKTS:NHYDY) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 128,400 shares, an increase of 717.8% from the August 31st total of 15,700 shares. Based on an average daily trading volume, of 593,800 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Norsk Hydro ASA to a “strong-buy” rating in a research note on Wednesday, June 12th.

Norsk Hydro ASA Price Performance

Norsk Hydro ASA stock traded up $0.12 during mid-day trading on Friday, hitting $6.45. The company’s stock had a trading volume of 120,422 shares, compared to its average volume of 208,239. The stock has a market capitalization of $12.96 billion, a P/E ratio of 46.07, a P/E/G ratio of 0.20 and a beta of 1.53. Norsk Hydro ASA has a twelve month low of $4.95 and a twelve month high of $6.98. The stock’s fifty day moving average price is $5.52 and its two-hundred day moving average price is $5.96. 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 issued its earnings results on Tuesday, July 23rd. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). Norsk Hydro ASA had a return on equity of 4.69% and a net margin of 0.11%. The company had revenue of $4.88 billion during the quarter. Research analysts forecast that Norsk Hydro ASA will post 0.57 earnings per share for the current year.

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.