Orkla Asa (OTCMKTS:ORKLY) Sees Significant Decrease in Short Interest

Orkla Asa (OTCMKTS:ORKLY) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 21,537 shares, a decrease of 69.5% from the May 14th total of 70,634 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 161,371 shares, the days-to-cover ratio is currently 0.1 days.

Orkla Asa Stock Up 0.9%

Shares of Orkla Asa stock traded up $0.10 during trading hours on Friday, reaching $10.53. The company’s stock had a trading volume of 16,960 shares, compared to its average volume of 61,167. Orkla Asa has a one year low of $9.91 and a one year high of $13.90. The company has a market capitalization of $10.50 billion, a P/E ratio of 9.31 and a beta of 0.34. The stock’s fifty day simple moving average is $11.97 and its two-hundred day simple moving average is $11.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.81 and a current ratio of 1.43.

Orkla Asa (OTCMKTS:ORKLY) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Orkla Asa had a net margin of 15.69% and a return on equity of 14.12%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ORKLY. Kepler Capital Markets lowered shares of Orkla Asa from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. UBS Group lowered shares of Orkla Asa from a “hold” rating to a “strong sell” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

About Orkla Asa

Orkla ASA (OTCMKTS: ORKLY) is a leading Norwegian industrial group with a strong focus on branded consumer goods, aluminium solutions and strategic investments. Founded in 1654 as a regional copper mine in Orkdal, Trøndelag, the company has evolved over centuries into a diversified conglomerate headquartered in Oslo. Orkla’s portfolio spans fast-moving consumer goods, including food, snacks, confectionery and personal care products, alongside advanced aluminium solutions and financial investments in select industries.

Within its branded consumer goods division, Orkla operates several business areas: Orkla Foods, Orkla Confectionery & Snacks, Orkla Care and Orkla Food Ingredients.