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

Orkla Asa (OTCMKTS:ORKLY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.07, but opened at $10.35. Orkla Asa shares last traded at $10.37, with a volume of 1,756 shares changing hands.

Analysts Set New Price Targets

Separately, UBS Group lowered shares of Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Orkla Asa Trading Up 1.8%

The stock has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $11.80. The firm has a market capitalization of $10.37 billion, a P/E ratio of 14.82 and a beta of 0.35. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29.

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

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.