Short Interest in Orkla Asa (OTCMKTS:ORKLY) Rises By 391.2%

Orkla Asa (OTCMKTS:ORKLY) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 63,153 shares, a growth of 391.2% from the June 30th total of 12,856 shares. Based on an average trading volume of 171,961 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Orkla Asa Price Performance

Shares of OTCMKTS:ORKLY opened at $10.70 on Friday. 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’s fifty day simple moving average is $10.84 and its two-hundred day simple moving average is $11.86. Orkla Asa has a 1-year low of $9.91 and a 1-year high of $13.90. The stock has a market cap of $10.68 billion, a PE ratio of 9.47 and a beta of 0.34.

Orkla Asa (OTCMKTS:ORKLY) last posted its earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Orkla Asa had a net margin of 15.69% and a return on equity of 13.83%.

Wall Street Analyst Weigh In

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

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.