Here’s my translation

Alan

Knútr breif kylfuna ok keyrði á nasir orminum. 
Knútr draws (typo of bregð, from bregða?) the-club and thrust (keyra, Z4) (it) onto (the) nose (lit: nostrils) of the-serpent

En hann dró nökkvann í kaf með sér, en Knútr hljóp á bak drekanum ok spenti um hálsinn. 
But (And) he (it, the serpent) drew the-boat under (the) water with him (itself), but Knútr leaped onto (the) back of the-dragon and clasped (his hands) around the-(its) neck.

Ok fóru þeir svá þangat til at skammt var til lands. 
And they went thus till-that-time that (it) was a short-distance to land

Tók hann þá í posa kerlingar ok sáði yfir drekan, ok varð hann þá svá máttdreginn at hann sökk í vatnit. 
He then reached into (the) small-bag of (the) old-woman and scattered (that which was in it) over the-dragon, and he (it, the dragon) became then so sapped (lit: drawn)-of-strength that he (it) sank into the lake (water)

En Knútr lagðist þá til lands.
But (And) Knútr then laid-himself to land (scrambled to shore)

Var hann þá bæði stirðr ok móðr. 
He was then (by that time) both stiff and worn-out.

En sér at eigi gjörist setuefni. 
But (And) (he) sees that an opportunity-for-resting (setuefni, CV, under seta) arose not.

Vill nú flýta sér til fóstbræðra sinna. 
(He) wants now to hasten himself (make haste) to his foster-brothers.

Rekr nú saman nautin. 
(He) drives the-cattle now together.

Eru þau mjög bagræk, en þó kemr hann um síðir til Stíganda fóstbróður síns.
They are very difficult-to-drive (bagrækr = bágrækr, Z), but nevertheless he comes at last to Stígandi his foster-brother

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Nú er at segja frá Stíganda at þá er þeir skildu Hörðr, settist hann fyrir dyr hólsins. 
Now (one) is to say about Stígandi that when they (he and) Hörðr parted, he set-himself in-front-of (the) doorway of the-knoll.

En er hann hafði eigi lengi þar verit þá kemr svínahirðirinn heim fram úr skóginum. 
But (And) when he had not a long-time been there, then the-swine-herd comes home forward out-of the-forest.

Þat var Hjálmr bróðir Hlégerðar. 
That was Hjálmr, brother of Hlégerðr.

Hann gekk þar fyrst at sem gyltan lá sú in magra. 
He went (on foot) firstly to there where (þar…sem) the-young-sow lay, she the lean (one) (if you remember from earlier)

Hann gaf henni mikit vandarhögg, en hon gat tregliga upp staðit. 
He gave her a great flogging, but (and) she was-able to stand (geta + pp) up with-difficulty.

Síðan reisir hann upp svínin ok rekr þau upp at hólnum. 
After that he raises up the swine and drives them up to the-knoll.

Stígandi var þar fyrir. 
Stígandi was there already (or in front, at hand, in wait, or just present)

Þá mælti Hjálmr til hans: “Illu heilli ok óþörfu sjálfum þér, komtu hér: Mikla dirfð ætlar þú þér, at þú ætlar at reka svínin úr höndum mér.” 
Then Hjálmr spoke to him: “May-you-bring (imperative, koma, Z3) ill and harmful (úþarfr, adj) luck (heill, noun) to you(r)self here: you intend great courage for yourself, (such) that you intend to drive the-swine out-of my hands.”

“Eigi dugir ófreistat,” sagði Stígandi. 
“(It) suffices not unattempted,” (Not trying is not an option, ’Nothing ventured nothing gained’) said Stígandi.

Hjálmr hafði atgeir í hendi ok hjó til Stíganda, en hann laust af sér lagit. 
Hjálmr had a halberd in hand and hewed towards Stígandi, but (and) he (Stígandi) struck (ljósta) off from himself (ie parried) the blow.

Í því opnaðist haugrinn. 
In that (instant) the mound opened.

Stígandi krækti svíðunni til Hjálms ok kippti honum áfram ok fell hann inn í glugginn.
Stígandi hooked the-billhook at Hjálmr and pulled him forward and he (Hjálmr) fell inside into the-opening.

Í hauginum váru fjór tigir trölla. 
In the-mound were forty (lit: four tens of) trolls.

Sóttu þau nú út úr hauginum ok Hjálmr með þeim. 
They sought now (to go) out out-of the-mound and Hlálmr with them.

Stígandi varði dyrnar vel ok hraustliga. 
Stígandi defended the doorway well and valiantly.

Fekk hann þá mörg sár ok stór. 
He received then many and great wounds.

Opt krækti hann tröllin með svíðunni ok kastaði þeim inn í hauginn. 
Often he hooked the-trolls with the-billhook and cast them inside into the-mound.

Svínin tóku at sækja at honum, en hann vill þeim eigi vánt gjöra. 
The-swine began to attack him (seek him out), but (and) he wanted not to do harm/wickedness (göra, Z6 + neut adj, vándr) to them. (remembering his original mission statement)

Gekk þessi sókn allan daginn ok alla nóttina eptir.
This fight went all the-day and all the-night after.