Orkla Asa (OTCMKTS:ORKLY) Sees Large Increase in Short Interest

Key Points

• Short interest surged 160% to 111,554 shares as of October 15, up from 42,907 shares on September 30. Despite the increase, short interest represented approximately 0.0% of shares outstanding, with a 0.3-day short-interest ratio.
• Orkla shares opened at $10.54, with a $10.39 billion market capitalization and a 14.85 price-to-earnings ratio. The stock’s 52-week range is $9.40 to $13.90, while its 50-day and 200-day moving averages are $9.99 and $11.34, respectively.
• In its latest earnings report, Orkla posted $0.17 EPS, matching analyst expectations, while revenue of $1.79 billion fell short of the $1.86 billion consensus estimate. The company reported a 9.63% net margin and 13.98% return on equity.

Orkla Asa (OTCMKTS:ORKLY - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 111,554 shares, an increase of 160.0% from the September 30th total of 42,907 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 440,332 shares, the short-interest ratio is currently 0.3 days.

Orkla Asa Price Performance

Shares of ORKLY stock opened at $10.54 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.12 and a quick ratio of 0.63. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 14.85 and a beta of 0.37. Orkla Asa has a one year low of $9.40 and a one year high of $13.90. The stock's fifty day simple moving average is $9.99 and its 200 day simple moving average is $11.34.

Orkla Asa (OTCMKTS:ORKLY - Get Free Report) last posted its earnings results on Thursday, August 20th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Orkla Asa had a net margin of 9.63% and a return on equity of 13.98%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.86 billion.

About Orkla Asa

Orkla ASA is a Norwegian investment and industrial group focused primarily on branded consumer goods and related businesses. The company develops, produces and markets food, snacks, confectionery, health and personal-care products, and other everyday consumer products through a portfolio of established brands.

Its product categories include prepared foods, grocery products, baked goods, snacks, sweets, nutritional products, personal care and household items. Orkla also has operations in food ingredients and food services, supplying products and solutions to retailers, food manufacturers and professional customers.

Orkla's businesses serve consumers and customers mainly in the Nordic and Baltic countries, with selected activities and brands serving additional international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.