Short Interest in Orkla Asa (OTCMKTS:ORKLY) Declines By 58.6%

Orkla Asa (OTCMKTS:ORKLY) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 8,923 shares, a decrease of 58.6% from the May 31st total of 21,537 shares. Based on an average daily volume of 237,486 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, UBS Group downgraded shares of Orkla Asa from a “hold” rating to a “strong sell” rating in a 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’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Orkla Asa Stock Performance

ORKLY opened at $10.52 on Wednesday. The company has a 50 day simple moving average of $11.35 and a two-hundred day simple moving average of $11.90. 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 market cap of $10.50 billion, a P/E ratio of 9.31 and a beta of 0.34. Orkla Asa has a 1-year low of $9.91 and a 1-year high of $13.90.

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

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.