Orkla Asa (OTCMKTS:ORKLY) Short Interest Down 34.4% in August

Orkla Asa (OTCMKTS:ORKLY) saw a significant decrease in short interest in 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. Based on an average daily trading volume, of 76,027 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the company’s shares are sold short.

Orkla Asa Price Performance

Shares of Orkla Asa stock opened at $10.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. The company has a 50-day moving average of $10.82 and a 200 day moving average of $11.69. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 14.34 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 posted its quarterly earnings data on Thursday, August 20th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Orkla Asa had a net margin of 9.63% and a return on equity of 13.85%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion.

Analyst Ratings Changes

Separately, UBS Group cut 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company 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.