Tomra Systems ASA (OTCMKTS:TMRAY) Trading 3.5% Higher – Still a Buy?

Tomra Systems ASA (OTCMKTS:TMRAY)’s share price rose 3.5% during mid-day trading on Wednesday . The company traded as high as $9.99 and last traded at $9.9458. 1,205 shares changed hands during trading, a decline of 49% from the average daily volume of 2,375 shares. The stock had previously closed at $9.6121.

Analysts Set New Price Targets

Separately, Barclays restated an “overweight” rating on shares of Tomra Systems ASA in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Tomra Systems ASA Stock Up 3.5%

The company’s fifty day moving average price is $10.32 and its 200-day moving average price is $11.88.

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.