Tomra Systems ASA (OTCMKTS:TMRAY) Posts Earnings Results

Tomra Systems ASA (OTCMKTS:TMRAY) posted its earnings results on Friday. The company reported $0.17 earnings per share for the quarter, Zacks reports.

Tomra Systems ASA Stock Performance

Shares of Tomra Systems ASA stock traded down $1.14 during trading on Friday, reaching $12.92. The stock had a trading volume of 2,776 shares, compared to its average volume of 2,834. The stock has a fifty day moving average price of $13.30 and a two-hundred day moving average price of $13.71. Tomra Systems ASA has a 52 week low of $11.36 and a 52 week high of $16.94.

Wall Street Analysts Forecast Growth

Separately, Nordea Equity Research raised shares of Tomra Systems ASA to a “buy” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, Tomra Systems ASA has a consensus rating of “Strong Buy”.

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.