Short Interest in Orkla Asa (OTCMKTS:ORKLY) Grows By 391.2%

Orkla Asa (OTCMKTS:ORKLY) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 63,153 shares, a growth of 391.2% from the June 30th total of 12,856 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 171,961 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Orkla Asa Stock Performance

OTCMKTS ORKLY traded up $0.05 during trading hours on Friday, hitting $10.70. The company’s stock had a trading volume of 54,956 shares, compared to its average volume of 79,339. Orkla Asa has a 12 month low of $9.91 and a 12 month high of $13.90. The company’s 50 day simple moving average is $10.84 and its two-hundred day simple moving average is $11.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. The company has a market cap of $10.68 billion, a P/E ratio of 9.47 and a beta of 0.34.

Orkla Asa (OTCMKTS:ORKLY) last posted its earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Orkla Asa had a net margin of 15.69% and a return on equity of 13.83%.

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.