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

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 44,000 shares, a decrease of 24.1% from the October 15th total of 58,000 shares. Based on an average trading volume of 165,900 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Barclays raised shares of Norsk Hydro ASA to a "strong-buy" rating in a research note on Wednesday, October 16th.

Norsk Hydro ASA Stock Up 7.6 %

Shares of NHYDY stock traded up $0.45 during trading hours on Friday, reaching $6.29. 168,372 shares of the company's stock were exchanged, compared to its average volume of 190,480. Norsk Hydro ASA has a fifty-two week low of $4.95 and a fifty-two week high of $6.98. The stock's 50 day moving average is $6.10 and its 200-day moving average is $6.02. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 104.83, a P/E/G ratio of 0.19 and a beta of 1.54.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Norsk Hydro ASA had a return on equity of 7.03% and a net margin of 0.69%. The business had revenue of $4.68 billion during the quarter. Analysts predict that Norsk Hydro ASA will post 0.59 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.