Orkla Asa (OTCMKTS:ORKLY) Stock Short Interest Falls 89.6%

Orkla Asa (OTCMKTS:ORKLY) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 68 shares, a drop of 89.6% from the August 31st total of 656 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 370,124 shares, the short-interest ratio is presently 0.0 days.

Orkla Asa Stock Up 0.2%

Shares of ORKLY opened at $9.78 on Friday. The firm has a fifty day moving average price of $10.46 and a 200-day moving average price of $11.25. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.64 billion, a P/E ratio of 13.77 and a beta of 0.34. Orkla Asa has a 12-month low of $9.51 and a 12-month high of $13.90.

Orkla Asa (OTCMKTS:ORKLY) last announced its quarterly earnings data on Thursday, August 20th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.86 billion. Orkla Asa had a net margin of 9.63% and a return on equity of 13.98%.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Orkla Asa from a “hold” rating to a “strong sell” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Orkla Asa presently has an average rating of “Reduce”.

Orkla Asa Company Profile

Orkla ASA is a Norway-based branded consumer goods company and investment group headquartered in Oslo. The company develops, markets and sells everyday products through a portfolio of businesses serving consumers and professional customers primarily in the Nordic and Baltic countries, as well as selected markets in Europe and other regions.

Orkla’s activities span food and beverages, confectionery and snacks, food ingredients, personal care, health products and household goods. Its portfolio includes a range of local and international brands distributed through grocery stores, specialty retailers, food-service channels and other sales outlets.