Short Interest in Orkla ASA (OTCMKTS:ORKLY) Declines By 64.5%

Orkla ASA (OTCMKTS:ORKLY) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 11,900 shares, a decline of 64.5% from the August 15th total of 33,500 shares. Based on an average daily volume of 29,100 shares, the short-interest ratio is currently 0.4 days.

Orkla ASA Price Performance

ORKLY traded up $0.01 during trading hours on Wednesday, hitting $7.71. The company’s stock had a trading volume of 16,138 shares, compared to its average volume of 40,420. The business’s 50-day moving average price is $7.73 and its 200-day moving average price is $7.38. Orkla ASA has a 12 month low of $6.35 and a 12 month high of $8.56. The company has a current ratio of 1.13, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33.

Orkla ASA (OTCMKTS:ORKLY) last announced its quarterly earnings results on Friday, July 14th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Orkla ASA had a net margin of 8.29% and a return on equity of 12.69%. The company had revenue of $1.60 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.