Tomra Systems ASA (OTCMKTS:TMRAY) Trading Up 3.5% – Time to Buy?

Tomra Systems ASA (OTCMKTS:TMRAY)’s stock price traded up 3.5% during mid-day trading on Wednesday . The stock traded as high as $9.99 and last traded at $9.9458. Approximately 1,205 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 2,375 shares. The stock had previously closed at $9.6121.

Analyst Ratings Changes

Separately, Barclays reissued an “overweight” rating on shares of Tomra Systems ASA in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, Tomra Systems ASA has a consensus rating of “Buy”.

Tomra Systems ASA Stock Performance

The business’s 50 day moving average is $10.25 and its 200 day moving average is $11.85.

Tomra Systems ASA Company Profile

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.