Orkla Asa (OTCMKTS:ORKLY) Sees Significant Decline in Short Interest

Orkla Asa (OTCMKTS:ORKLY) saw a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 20,667 shares, a decline of 67.9% from the April 15th total of 64,287 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 96,861 shares, the days-to-cover ratio is currently 0.2 days.

Orkla Asa Stock Performance

ORKLY traded up $0.06 during trading on Friday, hitting $11.98. The stock had a trading volume of 21,700 shares, compared to its average volume of 52,802. Orkla Asa has a twelve month low of $9.91 and a twelve month high of $13.90. The firm has a market capitalization of $11.95 billion, a P/E ratio of 10.79 and a beta of 0.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.81 and a current ratio of 1.43. The company’s 50-day moving average price is $12.52 and its 200 day moving average price is $11.80.

Orkla Asa (OTCMKTS:ORKLY) last issued its earnings results on Thursday, February 12th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.85 billion. Orkla Asa had a net margin of 16.06% and a return on equity of 13.73%.

Analyst Upgrades and Downgrades

Separately, Kepler Capital Markets lowered Orkla Asa from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Orkla Asa has an average rating of “Hold”.

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.