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

Orkla ASA (OTCMKTS:ORKLY) saw a significant increase in short interest in the month of 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. Based on an average daily trading volume, of 41,700 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.0% of the company’s shares are sold short.

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 Up 1.1 %

Shares of ORKLY traded up $0.12 during midday trading on Friday, reaching $10.97. 20,633 shares of the company were exchanged, compared to its average volume of 27,228. Orkla ASA has a 1-year low of $6.36 and a 1-year high of $11.08. The stock has a 50-day moving average price of $9.76 and a 200-day moving average price of $9.36. 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 market cap of $10.94 billion, a price-to-earnings ratio of 19.59 and a beta of 0.53.

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