Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 4,700 shares, a decline of 86.8% from the November 15th total of 35,700 shares. Based on an average daily volume of 217,500 shares, the short-interest ratio is currently 0.0 days.
Norsk Hydro ASA Price Performance
Shares of NHYDY traded down $0.03 during mid-day trading on Monday, hitting $7.42. 51,530 shares of the company traded hands, compared to its average volume of 196,189. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.28 and a beta of 1.64. The business has a 50-day moving average of $6.60 and a 200 day moving average of $6.50. Norsk Hydro ASA has a one year low of $5.13 and a one year high of $10.72.
Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) last posted its earnings results on Tuesday, October 25th. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.15. The business had revenue of $5.26 billion during the quarter. Norsk Hydro ASA had a return on equity of 26.48% and a net margin of 14.65%. As a group, equities analysts expect that Norsk Hydro ASA will post 1.12 earnings per share for the current fiscal year.
Norsk Hydro ASA Cuts Dividend
The business also recently declared 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 was Wednesday, September 21st. This represents a yield of 8.49%. Norsk Hydro ASA’s dividend payout ratio is currently 30.68%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on NHYDY shares. Nordea Equity Research cut shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a report on Monday, September 26th. JPMorgan Chase & Co. downgraded Norsk Hydro ASA from a “neutral” rating to an “underweight” rating in a research note on Friday, October 28th. Morgan Stanley increased their price objective on shares of Norsk Hydro ASA from 85.00 to 93.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Norsk Hydro ASA from 85.00 to 78.00 in a research report on Wednesday, October 5th. Finally, Barclays cut their target price on Norsk Hydro ASA from 100.00 to 90.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.60.
Norsk Hydro ASA Company Profile
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.