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

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

Orkla ASA Stock Up 0.4 %

OTCMKTS:ORKLY traded up $0.04 on Tuesday, hitting $8.71. The stock had a trading volume of 40,341 shares, compared to its average volume of 38,930. The company has a market cap of $8.72 billion, a PE ratio of 16.43 and a beta of 0.58. Orkla ASA has a 52 week low of $6.36 and a 52 week high of $9.89. The business’s fifty day moving average is $8.96 and its 200 day moving average is $8.91. The company has a quick ratio of 0.64, a current ratio of 1.18 and a debt-to-equity ratio of 0.35.

Orkla ASA (OTCMKTS:ORKLY) last released its quarterly earnings data 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 12.95%. The firm had revenue of $1.64 billion for the quarter.

Analyst Ratings Changes

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.

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.