Orkla ASA (OTCMKTS:ORKLY) Sees Large Increase in Short Interest

Orkla ASA (OTCMKTS:ORKLY) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 37,300 shares, an increase of 98.4% from the February 28th total of 18,800 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 41,700 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

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

Orkla ASA Stock Up 1.1 %

OTCMKTS:ORKLY traded up $0.12 during mid-day trading on Friday, reaching $10.97. The stock had a trading volume of 20,633 shares, compared to its average volume of 27,228. The stock has a market cap of $10.94 billion, a P/E ratio of 19.59 and a beta of 0.53. The business’s 50 day moving average is $9.76 and its 200 day moving average is $9.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.70. Orkla ASA has a fifty-two week low of $6.36 and a fifty-two week high of $11.08.

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

About Orkla ASA

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.