Orkla Asa (OTCMKTS:ORKLY) Sees Unusually-High Trading Volume – Here’s Why

Orkla Asa (OTCMKTS:ORKLY) shares saw unusually-high trading volume on Wednesday . 115,998 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 68,140 shares.The stock last traded at $10.63 and had previously closed at $10.54.

Wall Street Analysts Forecast Growth

Separately, UBS Group downgraded Orkla Asa from a “hold” rating to a “strong sell” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Orkla Asa currently has a consensus rating of “Reduce”.

Orkla Asa Stock Performance

The company has a market cap of $11.01 billion, a PE ratio of 9.77 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’s 50-day simple moving average is $11.27 and its 200 day simple moving average is $11.90.

Orkla Asa (OTCMKTS:ORKLY) last issued its earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share 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 business 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.