Orkla ASA (OTCMKTS:ORKLY) Short Interest Down 49.6% in March

Orkla ASA (OTCMKTS:ORKLY) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 18,800 shares, a decrease of 49.6% from the March 15th total of 37,300 shares. Based on an average daily volume of 51,300 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s stock are short sold.

Orkla ASA Stock Performance

Shares of OTCMKTS ORKLY traded up $0.43 during mid-day trading on Wednesday, hitting $11.69. The company had a trading volume of 68,716 shares, compared to its average volume of 31,868. The stock’s 50-day moving average price is $10.27 and its 200-day moving average price is $9.51. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 20.88 and a beta of 0.53. Orkla ASA has a 1 year low of $6.36 and a 1 year high of $11.80. The company has a current ratio of 1.30, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34.

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

Analysts Set New Price Targets

Separately, Sanford C. Bernstein raised 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.