Tomra Systems ASA (OTCMKTS:TMRAY) Sees Large Drop in Short Interest

Tomra Systems ASA (OTCMKTS:TMRAY) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 13,406 shares, a decrease of 77.1% from the August 31st total of 58,488 shares. Based on an average trading volume of 45,305 shares, the days-to-cover ratio is currently 0.3 days.

Tomra Systems ASA Stock Up 1.4%

TMRAY stock opened at $9.75 on Friday. The stock’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $10.89. Tomra Systems ASA has a fifty-two week low of $9.28 and a fifty-two week high of $15.37.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an “overweight” rating on shares of Tomra Systems ASA in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About Tomra Systems ASA

Tomra Systems ASA is a Norway-based technology company that develops solutions for collecting, sorting and processing materials. Its best-known products are reverse-vending machines that collect used beverage containers for recycling and help retailers, consumers and deposit-return systems improve the recovery of bottles and cans.

Through its recycling business, Tomra supplies sensor-based sorting equipment and digital systems for municipal and commercial waste, plastics, metals, paper and other materials.