Orkla Asa (OTCMKTS:ORKLY) Shares Down 5.1% – Here’s What Happened

Orkla Asa (OTCMKTS:ORKLY)’s stock price traded down 5.1% during trading on Friday . The company traded as low as $10.51 and last traded at $10.51. Approximately 8,806 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 67,986 shares. The stock had previously closed at $11.07.

Analysts Set New Price Targets

Separately, UBS Group lowered shares of 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Orkla Asa Stock Up 1.8%

The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $10.37 billion, a P/E ratio of 9.31 and a beta of 0.35. The stock’s 50-day simple moving average is $10.83 and its 200-day simple moving average is $11.81.

Orkla Asa (OTCMKTS:ORKLY) last posted its earnings results on Thursday, August 20th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Orkla Asa had a net margin of 15.69% and a return on equity of 13.83%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.86 billion.

About Orkla Asa

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.