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

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

Analyst Upgrades and Downgrades

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

Orkla ASA Stock Performance

Shares of Orkla ASA stock traded up $0.07 on Wednesday, hitting $9.17. 107,461 shares of the company were exchanged, compared to its average volume of 26,503. The company has a current ratio of 1.30, a quick ratio of 0.70 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $8.92 and a 200 day moving average price of $8.98. Orkla ASA has a 1-year low of $6.36 and a 1-year high of $9.89.

Orkla ASA (OTCMKTS:ORKLY) last posted its earnings results on Tuesday, October 29th. The company reported $0.17 earnings per share for the quarter. Orkla ASA had a net margin of 8.18% and a return on equity of 12.87%. The company had revenue of $1.64 billion for the quarter.

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.