Short Interest in Orkla Asa (OTCMKTS:ORKLY) Expands By 241.8%

Orkla Asa (OTCMKTS:ORKLY) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 70,634 shares, a growth of 241.8% from the April 30th total of 20,667 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 135,841 shares, the days-to-cover ratio is currently 0.5 days.

Orkla Asa Stock Down 5.1%

OTCMKTS ORKLY traded down $0.57 during midday trading on Friday, hitting $10.56. 98,548 shares of the company traded hands, compared to its average volume of 55,074. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.43 and a quick ratio of 0.81. The company has a market cap of $10.54 billion, a PE ratio of 9.35 and a beta of 0.39. The company’s 50-day simple moving average is $12.32 and its 200-day simple moving average is $11.90. Orkla Asa has a 52 week low of $9.91 and a 52 week high of $13.90.

Orkla Asa (OTCMKTS:ORKLY) last announced its earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting 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 return on equity of 14.12% and a net margin of 15.69%.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets downgraded Orkla Asa from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Orkla Asa presently has an average rating of “Hold”.

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.