Orkla Asa (OTCMKTS:ORKLY) Short Interest Down 98.8% in August

Orkla Asa (OTCMKTS:ORKLY) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 656 shares, a decrease of 98.8% from the August 15th total of 54,889 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 137,148 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, UBS Group cut shares of Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Orkla Asa currently has a consensus rating of “Reduce”.

Orkla Asa Trading Down 0.3%

Shares of ORKLY stock traded down $0.03 during trading hours on Thursday, reaching $9.83. 225,888 shares of the stock were exchanged, compared to its average volume of 106,780. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.85 and a beta of 0.34. Orkla Asa has a 12-month low of $9.82 and a 12-month high of $13.90. The company’s 50-day moving average price is $10.71 and its 200-day moving average price is $11.51. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29.

Orkla Asa (OTCMKTS:ORKLY) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion. Orkla Asa had a net margin of 9.63% and a return on equity of 13.85%.

Orkla Asa Company Profile

Orkla ASA is a Norway-based branded consumer goods company and investment group headquartered in Oslo. The company develops, markets and sells everyday products through a portfolio of businesses serving consumers and professional customers primarily in the Nordic and Baltic countries, as well as selected markets in Europe and other regions.

Orkla’s activities span food and beverages, confectionery and snacks, food ingredients, personal care, health products and household goods. Its portfolio includes a range of local and international brands distributed through grocery stores, specialty retailers, food-service channels and other sales outlets.