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

Orkla Asa (OTCMKTS:ORKLY) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 656 shares, a drop of 98.8% from the August 15th total of 54,889 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 137,148 shares, the days-to-cover ratio is presently 0.0 days.

Orkla Asa Stock Performance

Shares of ORKLY opened at $9.83 on Friday. Orkla Asa has a 52-week low of $9.82 and a 52-week high of $13.90. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 13.85 and a beta of 0.34. The business’s 50 day moving average is $10.71 and its two-hundred day moving average is $11.51.

Orkla Asa (OTCMKTS:ORKLY) last issued its earnings results on Thursday, August 20th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Orkla Asa had a net margin of 9.63% and a return on equity of 13.85%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion.

Wall Street Analyst Weigh In

Separately, UBS Group downgraded Orkla Asa from a “hold” rating to a “strong sell” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Orkla Asa presently has an average rating of “Reduce”.

About Orkla Asa

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.