Orkla Asa (OTCMKTS:ORKLY) Shares Gap Down – Here’s Why

Orkla Asa (OTCMKTS:ORKLY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.30, but opened at $11.6450. Orkla Asa shares last traded at $11.66, with a volume of 525 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Kepler Capital Markets cut shares of Orkla Asa from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Orkla Asa Stock Down 2.7%

The company’s 50 day moving average price is $12.42 and its two-hundred day moving average price is $11.86. The firm has a market cap of $11.36 billion, a PE ratio of 10.08 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 0.29.

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

Orkla Asa Company Profile

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.