Tomra Systems ASA (OTCMKTS:TMRAY) Posts Earnings Results

Tomra Systems ASA (OTCMKTS:TMRAY) posted its quarterly earnings results on Friday. The company reported $0.17 earnings per share for the quarter, Zacks reports.

Tomra Systems ASA Stock Performance

Shares of TMRAY traded down $1.14 during trading hours on Friday, hitting $12.92. 2,776 shares of the company were exchanged, compared to its average volume of 2,834. Tomra Systems ASA has a fifty-two week low of $11.36 and a fifty-two week high of $16.94. The firm’s fifty day moving average is $13.30 and its 200 day moving average is $13.71.

Wall Street Analysts Forecast Growth

Separately, Nordea Equity Research raised shares of Tomra Systems ASA to a “buy” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

About Tomra Systems ASA

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor‐based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit‐return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near‐infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.