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

Orkla ASA (OTCMKTS:ORKLY) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 18,800 shares, a decrease of 59.4% from the February 13th total of 46,300 shares. Based on an average daily trading volume, of 35,900 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

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

Orkla ASA Price Performance

Shares of ORKLY traded down $0.06 during midday trading on Thursday, hitting $10.03. 16,296 shares of the company traded hands, compared to its average volume of 27,368. Orkla ASA has a one year low of $6.36 and a one year high of $10.32. The firm has a market cap of $10.01 billion, a P/E ratio of 17.91 and a beta of 0.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.70. The stock has a 50-day moving average of $9.31 and a 200-day moving average of $9.22.

Orkla ASA (OTCMKTS:ORKLY) last issued its quarterly earnings data 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 during 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.