Tomra Systems ASA (OTCMKTS:TMRAY) Shares Down 0.9% – Should You Sell?

Tomra Systems ASA (OTCMKTS:TMRAY) fell 0.9% on Thursday . The company traded as low as $12.91 and last traded at $12.9540. 633 shares changed hands during trading, a decline of 80% from the average session volume of 3,214 shares. The stock had previously closed at $13.0750.

Wall Street Analysts Forecast Growth

Separately, Nordea Equity Research upgraded shares of Tomra Systems ASA to a “buy” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, Tomra Systems ASA currently has a consensus rating of “Strong Buy”.

Tomra Systems ASA Price Performance

The firm has a 50-day moving average of $13.23 and a 200-day moving average of $13.71.

About Tomra Systems ASA

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor‐based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit‐return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near‐infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.