Orkla Asa (OTCMKTS:ORKLY) Shares Gap Down – Here’s Why

Orkla Asa (OTCMKTS:ORKLY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.07, but opened at $10.35. Orkla Asa shares last traded at $10.37, with a volume of 1,756 shares traded.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Orkla Asa from a “hold” rating to a “strong sell” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Orkla Asa Stock Performance

The stock has a 50 day simple moving average of $10.84 and a 200 day simple moving average of $11.82. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.18 billion, a P/E ratio of 9.15 and a beta of 0.35.

Orkla Asa (OTCMKTS:ORKLY) last released its earnings results on Thursday, August 20th. The company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Orkla Asa had a return on equity of 13.83% 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.