Orkla Asa (OTCMKTS:ORKLY) Trading Down 5.1% – Here’s What Happened

Orkla Asa (OTCMKTS:ORKLY) shares fell 5.1% during mid-day trading on Friday . The stock traded as low as $10.51 and last traded at $10.51. 8,806 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 67,986 shares. The stock had previously closed at $11.07.

Analysts Set New Price Targets

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

Orkla Asa Stock Up 1.8%

The company has a market cap of $10.37 billion, a P/E ratio of 9.31 and a beta of 0.35. The stock has a 50-day moving average of $10.83 and a two-hundred day moving average of $11.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40.

Orkla Asa (OTCMKTS:ORKLY) last announced its quarterly earnings results on Thursday, August 20th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Orkla Asa had a net margin of 15.69% and a return on equity of 13.83%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 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.