Tomra Systems ASA (OTCMKTS:TMRAY) Trading 3.5% Higher – Here’s Why

Tomra Systems ASA (OTCMKTS:TMRAY) rose 3.5% during trading on Wednesday . The company traded as high as $9.99 and last traded at $9.9458. Approximately 1,205 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,375 shares. The stock had previously closed at $9.6121.

Wall Street Analysts Forecast Growth

Separately, Barclays reiterated an “overweight” rating on shares of Tomra Systems ASA in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Tomra Systems ASA Price Performance

The firm’s 50-day moving average price is $10.32 and its two-hundred day moving average price is $11.88.

Tomra Systems ASA Company Profile

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor‐based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit‐return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near‐infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.