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

Orkla Asa (OTCMKTS:ORKLY) was the recipient of a large drop in short interest in 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 stock are sold short. Based on an average daily trading volume, of 137,148 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Orkla Asa Stock Performance

Shares of ORKLY opened at $9.76 on Friday. The firm has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $11.50. Orkla Asa has a 12 month low of $9.74 and a 12 month high of $13.90. 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 stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 13.75 and a beta of 0.34.

Orkla Asa (OTCMKTS:ORKLY) last released 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 return on equity of 13.85% and a net margin of 9.63%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.86 billion.

Orkla Asa Company Profile

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.