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

Shares of Orkla Asa (OTCMKTS:ORKLY) gapped down prior to trading on Wednesday . The stock had previously closed at $12.30, but opened at $11.6450. Orkla Asa shares last traded at $11.66, with a volume of 525 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets cut Orkla Asa from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Orkla Asa Stock Down 5.0%

The business has a fifty day moving average of $12.47 and a two-hundred day moving average of $11.84. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 10.63 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 0.29.

Orkla Asa (OTCMKTS:ORKLY) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Orkla Asa had a net margin of 16.06% and a return on equity of 13.73%.

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.