Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 42,200 shares, an increase of 251.7% from the October 15th total of 12,000 shares. Based on an average daily trading volume, of 320,900 shares, the days-to-cover ratio is presently 0.1 days.
Norsk Hydro ASA Price Performance
NHYDY traded up $0.56 during trading hours on Friday, hitting $7.52. The company's stock had a trading volume of 195,059 shares, compared to its average volume of 171,045. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.21. Norsk Hydro ASA has a 12 month low of $5.13 and a 12 month high of $10.72. The stock has a market cap of $15.42 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 0.30 and a beta of 1.59. The business's 50-day moving average price is $6.12 and its 200-day moving average price is $6.57.
Get Norsk Hydro ASA alerts:Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The industrial products company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.15. Norsk Hydro ASA had a net margin of 9.94% and a return on equity of 21.52%. The business had revenue of $5.26 billion for the quarter. Sell-side analysts expect that Norsk Hydro ASA will post 1.13 earnings per share for the current fiscal year.
Norsk Hydro ASA Cuts Dividend
The company also recently announced a dividend, which was paid on Friday, October 7th. Shareholders of record on Thursday, September 22nd were issued a $0.1134 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a yield of 8.49%.Analyst Ratings Changes
Several equities analysts have weighed in on NHYDY shares. JPMorgan Chase & Co. downgraded shares of Norsk Hydro ASA from a "neutral" rating to an "underweight" rating in a report on Friday, October 28th. Nordea Equity Research downgraded shares of Norsk Hydro ASA from a "hold" rating to a "sell" rating in a report on Monday, September 26th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Norsk Hydro ASA from 85.00 to 78.00 in a report on Wednesday, October 5th. Barclays lowered their price target on shares of Norsk Hydro ASA from 100.00 to 90.00 and set an "overweight" rating on the stock in a report on Friday, October 21st. Finally, Morgan Stanley lowered their price target on shares of Norsk Hydro ASA from 85.00 to 82.00 and set an "overweight" rating on the stock in a report on Friday, July 29th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $76.40.
About Norsk Hydro ASA
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Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, remelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Bauxite & Alumina, Aluminium Metal, Metal Markets, Extrusions, and Energy segments. The Bauxite & Alumina segment engages in bauxite mining activities, production of alumina, and related commercial activities, primarily the sale of alumina.
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