Short Interest in Orkla Asa (OTCMKTS:ORKLY) Decreases By 58.6%

Orkla Asa (OTCMKTS:ORKLY) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 8,923 shares, a drop of 58.6% from the May 31st total of 21,537 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 237,486 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

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

Orkla Asa Trading Up 0.9%

OTCMKTS:ORKLY traded up $0.10 during trading hours on Monday, reaching $10.71. The company’s stock had a trading volume of 52,764 shares, compared to its average volume of 67,423. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 9.48 and a beta of 0.34. The firm has a 50-day simple moving average of $11.44 and a 200-day simple moving average of $11.90. Orkla Asa has a 1 year low of $9.91 and a 1 year high of $13.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40.

Orkla Asa (OTCMKTS:ORKLY) last announced its quarterly earnings results on Wednesday, May 20th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Orkla Asa had a return on equity of 13.83% and a net margin of 15.69%.The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion.

Orkla Asa Company Profile

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.