Short Interest in Orkla ASA (OTCMKTS:ORKLY) Decreases By 38.9%

Orkla ASA (OTCMKTS:ORKLY) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 11,600 shares, a decline of 38.9% from the December 15th total of 19,000 shares. Based on an average daily trading volume, of 43,500 shares, the days-to-cover ratio is presently 0.3 days.

Orkla ASA Price Performance

Shares of ORKLY traded up $0.04 during mid-day trading on Tuesday, reaching $8.71. 40,341 shares of the stock traded hands, compared to its average volume of 38,930. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 16.43 and a beta of 0.58. Orkla ASA has a 1 year low of $6.36 and a 1 year high of $9.89. The firm has a fifty day moving average price of $8.96 and a 200 day moving average price of $8.91. The company has a current ratio of 1.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.35.

Orkla ASA (OTCMKTS:ORKLY) last posted its earnings results on Tuesday, October 29th. The company reported $0.17 EPS for the quarter. Orkla ASA had a return on equity of 12.95% and a net margin of 8.18%. The business had revenue of $1.64 billion during the quarter.

Analyst Upgrades and Downgrades

Separately, Sanford C. Bernstein upgraded shares of Orkla ASA from a “hold” rating to a “strong-buy” rating in a research 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.