Orkla Asa (OTCMKTS:ORKLY) Sees Large Drop in Short Interest

Orkla Asa (OTCMKTS:ORKLY) was the recipient of a significant decrease in short interest in the month of 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. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 161,371 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of research firms have weighed in on ORKLY. Kepler Capital Markets downgraded Orkla Asa from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 14th. UBS Group downgraded Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Orkla Asa Stock Up 1.4%

Shares of ORKLY traded up $0.15 during mid-day trading on Friday, reaching $10.58. The company’s stock had a trading volume of 59,452 shares, compared to its average volume of 97,203. The business has a fifty day moving average of $11.92 and a 200 day moving average of $11.91. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 9.36 and a beta of 0.34. Orkla Asa has a 1 year low of $9.91 and a 1 year high of $13.90. The company has a quick ratio of 0.81, a current ratio of 1.43 and a debt-to-equity ratio of 0.29.

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

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.