Norsk Hydro Short Interest Falls Sharply in September
Norsk Hydro's short interest dropped 93% to 17,591 shares as of Sept. 30, from 252,719 shares on Sept. 15. The days-to-cover ratio stood at 0.1 days, with shorted shares making up about 0.0% of the total. The stock traded at $8.19 and remained below its 50-day and 200-day moving averages; the company beat quarterly earnings and revenue estimates but analysts had a consensus Hold rating.
Norsk Hydro is an Oslo-headquartered aluminum and renewable-energy firm founded in 1905. Its operations span bauxite mining, alumina refining, primary aluminum output, recycling, metal sales, extrusion, and finished/semi-finished products. As of Sept. 30, short interest fell to 17,591 shares from 252,719 on Sept. 15. With average volume around 278,373, covering would take roughly 0.1 days.
The stock traded at $8.19, below its 50-day ($9.37) and 200-day ($10.15) averages. Market value was $16.20 billion; the 52-week range was $6.49–$13.02. Quarterly EPS and revenue exceeded estimates. Analysts' consensus was Hold, with one Sell, seven Hold, and three Buy/Strong Buy ratings.
The drop in short interest may indicate less bearish positioning, but because the remaining shorted amount is tiny, its direct societal effect could be minimal. Investors and analysts may see slightly lower squeeze or volatility risk. Workers, local communities, and customers linked to aluminum and renewable energy could still be influenced mainly by company performance, commodity prices, and energy markets rather than this single metric.