Short Interest in Orkla Asa (OTCMKTS:ORKLY) Expands By 241.8%

Orkla Asa (OTCMKTS:ORKLY) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 70,634 shares, a growth of 241.8% from the April 30th total of 20,667 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 135,841 shares, the days-to-cover ratio is currently 0.5 days.

Orkla Asa Stock Down 5.1%

Shares of Orkla Asa stock traded down $0.57 during trading on Friday, reaching $10.56. The company’s stock had a trading volume of 98,548 shares, compared to its average volume of 55,074. The company has a quick ratio of 0.81, a current ratio of 1.43 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 9.35 and a beta of 0.39. Orkla Asa has a 1-year low of $9.91 and a 1-year high of $13.90. The company has a 50-day simple moving average of $12.32 and a two-hundred day simple moving average of $11.90.

Orkla Asa (OTCMKTS:ORKLY) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Orkla Asa had a return on equity of 14.12% and a net margin of 15.69%.

Analyst Upgrades and Downgrades

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