Orkla Asa (OTCMKTS:ORKLY) Sees Strong Trading Volume – Time to Buy?

Orkla Asa (OTCMKTS:ORKLY) saw unusually-strong trading volume on Wednesday . 109,520 shares were traded during trading, an increase of 44% from the previous session’s volume of 75,903 shares.The stock last traded at $9.65 and had previously closed at $9.66.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered shares of 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Orkla Asa Price Performance

The firm has a market capitalization of $9.52 billion, a PE ratio of 13.61 and a beta of 0.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The stock has a fifty day moving average price of $10.64 and a 200-day moving average price of $11.43.

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

About Orkla Asa

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.