Orkla Asa (OTCMKTS:ORKLY) Sees Strong Trading Volume – Here’s What Happened

Shares of Orkla Asa (OTCMKTS:ORKLY) saw unusually-strong trading volume on Monday . Approximately 99,180 shares changed hands during mid-day trading, an increase of 71% from the previous session’s volume of 57,953 shares.The stock last traded at $10.37 and had previously closed at $10.4204.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group cut Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. Kepler Capital Markets cut shares of Orkla Asa from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Orkla Asa currently has a consensus rating of “Reduce”.

Orkla Asa Stock Up 0.6%

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.43 and a quick ratio of 0.81. The firm has a market capitalization of $10.42 billion, a P/E ratio of 9.24 and a beta of 0.34. The business has a 50 day moving average price of $12.05 and a 200 day moving average price of $11.91.

Orkla Asa (OTCMKTS:ORKLY) last announced its earnings results on Wednesday, May 20th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Orkla Asa had a return on equity of 14.12% and a net margin of 15.69%.

About Orkla Asa

Orkla ASA (OTCMKTS: ORKLY) is a leading Norwegian industrial group with a strong focus on branded consumer goods, aluminium solutions and strategic investments. Founded in 1654 as a regional copper mine in Orkdal, Trøndelag, the company has evolved over centuries into a diversified conglomerate headquartered in Oslo. Orkla’s portfolio spans fast-moving consumer goods, including food, snacks, confectionery and personal care products, alongside advanced aluminium solutions and financial investments in select industries.

Within its branded consumer goods division, Orkla operates several business areas: Orkla Foods, Orkla Confectionery & Snacks, Orkla Care and Orkla Food Ingredients.