Orkla ASA (OTCMKTS:ORKLY) Sees Large Drop in Short Interest

Orkla ASA (OTCMKTS:ORKLY) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 18,800 shares, a decrease of 59.4% from the February 13th total of 46,300 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 35,900 shares, the short-interest ratio is currently 0.5 days.

Orkla ASA Trading Down 0.5 %

Shares of OTCMKTS ORKLY traded down $0.06 during mid-day trading on Thursday, hitting $10.03. 16,296 shares of the company traded hands, compared to its average volume of 27,368. The business has a 50 day moving average of $9.31 and a two-hundred day moving average of $9.22. Orkla ASA has a 1 year low of $6.36 and a 1 year high of $10.32. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 17.91 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Orkla ASA (OTCMKTS:ORKLY) last posted its earnings results on Thursday, February 13th. The company reported $0.14 earnings per share (EPS) for the quarter. Orkla ASA had a net margin of 8.58% and a return on equity of 13.13%. The firm had revenue of $1.70 billion during the quarter.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein raised Orkla ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th.

Orkla ASA Company Profile

Orkla ASA engages in branded consumer goods, and industrial and financial investment businesses. The company offers branded products, including frozen pizza, ketchup, soups, sauces, bread toppings, and ready-to-eat meals through grocery channels, as well as food service, convenience stores, and petrol stations.