Short Interest in Orkla ASA (OTCMKTS:ORKLY) Expands By 98.4%

Orkla ASA (OTCMKTS:ORKLY) was the target of a large increase in short interest during 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 stock are sold short.

Orkla ASA Stock Up 1.1 %

Shares of ORKLY traded up $0.12 during mid-day trading on Friday, hitting $10.97. 20,633 shares of the company’s stock were exchanged, compared to its average volume of 27,228. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 19.59 and a beta of 0.53. The firm has a fifty day moving average of $9.76 and a two-hundred day moving average of $9.36. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. Orkla ASA has a twelve month low of $6.36 and a twelve month high of $11.08.

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

Analysts Set New Price Targets

Separately, Sanford C. Bernstein upgraded Orkla ASA from a “hold” rating to a “strong-buy” rating in a report 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.