Orkla ASA (OTCMKTS:ORKLY) Short Interest Up 98.4% in March

Orkla ASA (OTCMKTS:ORKLY) was the recipient of 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 trading volume of 41,700 shares, the short-interest ratio is presently 0.9 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Orkla ASA Price Performance

ORKLY stock traded up $0.12 on Friday, hitting $10.97. 20,633 shares of the company’s stock traded hands, 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. Orkla ASA has a 1-year low of $6.36 and a 1-year high of $11.08. 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 stock has a fifty day moving average of $9.76 and a 200-day moving average of $9.36.

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