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

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

Wall Street Analyst Weigh In

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

Orkla Asa Stock Up 0.5%

Orkla Asa stock opened at $10.70 on Friday. The firm has a 50 day moving average price of $10.84 and a 200-day moving average price of $11.86. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. Orkla Asa has a twelve month low of $9.91 and a twelve month high of $13.90. The company has a market capitalization of $10.68 billion, a P/E ratio of 9.47 and a beta of 0.34.

Orkla Asa (OTCMKTS:ORKLY) last posted 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 net margin of 15.69% and a return on equity of 13.83%. The company 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.