Orkla Asa (OTCMKTS:ORKLY) Sees Significant Decrease in Short Interest

Orkla Asa (OTCMKTS:ORKLY) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 54,889 shares, a decrease of 34.4% from the July 30th total of 83,628 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 76,027 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Orkla Asa from a “hold” rating to a “strong sell” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Orkla Asa has an average rating of “Reduce”.

Orkla Asa Stock Up 0.6%

OTCMKTS:ORKLY opened at $10.20 on Tuesday. The business’s fifty day moving average price is $10.82 and its 200 day moving average price is $11.71. 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 $10.05 billion, a price-to-earnings ratio of 14.37 and a beta of 0.35. Orkla Asa has a 1-year low of $9.91 and a 1-year high of $13.90.

Orkla Asa (OTCMKTS:ORKLY) last issued its earnings results on Thursday, August 20th. The company reported $0.17 EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate 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.