Tomra Systems ASA (OTCMKTS:TMRAY) Trading Up 2.1% – Still a Buy?

Tomra Systems ASA (OTCMKTS:TMRAY)’s share price was up 2.1% during mid-day trading on Tuesday . The company traded as high as $13.29 and last traded at $13.2690. Approximately 1,294 shares traded hands during trading, a decline of 67% from the average daily volume of 3,874 shares. The stock had previously closed at $13.00.

Analysts Set New Price Targets

Separately, Nordea Equity Research raised shares of Tomra Systems ASA to a “buy” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Tomra Systems ASA Trading Up 2.1%

The company has a 50-day moving average price of $12.57 and a two-hundred day moving average price of $14.24.

Tomra Systems ASA Company Profile

Tomra Systems ASA, headquartered in Asker, Norway, is a leading provider of sensor‐based sorting and collection solutions for the recycling, food and mining industries. The company’s core offering centers on reverse vending machines (RVMs) that automate the collection and sorting of used beverage containers in deposit‐return schemes. In addition, Tomra designs and manufactures advanced sorting equipment that employs near‐infrared (NIR), X-ray and laser technologies to separate materials such as plastics, metals, glass and paper, as well as to optimize yield and quality in food processing operations.

Founded in 1972 by brothers Petter and Tore Planke, Tomra pioneered the use of automated collection technology to support environmental sustainability and resource recovery.