Orkla Asa (OTCMKTS:ORKLY) Sees Large Volume Increase – Here’s Why

Orkla Asa (OTCMKTS:ORKLY) saw strong trading volume on Wednesday . 115,998 shares traded hands during trading, an increase of 70% from the previous session’s volume of 68,140 shares.The stock last traded at $10.63 and had previously closed at $10.54.

Analysts Set New Price Targets

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

Orkla Asa Stock Performance

The firm has a market capitalization of $10.71 billion, a P/E ratio of 9.50 and a beta of 0.34. 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 firm has a 50-day moving average price of $11.35 and a two-hundred day moving average price of $11.90.

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

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.