Marine Harvest ASA (OTCMKTS:MHGVY) Shares Gap Down – What’s Next?

Shares of Marine Harvest ASA (OTCMKTS:MHGVY) gapped down prior to trading on Friday . The stock had previously closed at $22.97, but opened at $22.12. Marine Harvest ASA shares last traded at $22.18, with a volume of 7,036 shares trading hands.

Analyst Upgrades and Downgrades

MHGVY has been the topic of several analyst reports. Berenberg Bank upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Barclays raised shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Marine Harvest ASA Stock Performance

The company has a quick ratio of 0.76, a current ratio of 2.70 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $22.94 and a 200 day simple moving average of $21.46. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 26.06 and a beta of 1.02.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its earnings results on Wednesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Marine Harvest ASA had a net margin of 6.99% and a return on equity of 12.66%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. On average, sell-side analysts predict that Marine Harvest ASA will post 0.95 earnings per share for the current fiscal year.

Marine Harvest ASA Company Profile

Marine Harvest ASA, trading on the OTC Markets under the symbol MHGVY, is a leading global seafood company headquartered in Bergen, Norway. The company specializes in the farming, processing and distribution of Atlantic salmon and other salmonid species, delivering fresh, frozen and value-added products to retail, foodservice and wholesale customers. With a focus on high-quality protein, Marine Harvest’s product portfolio includes whole and portioned fillets, smoked salmon, seafood burgers, ready-to-eat meals and other branded offerings.

Marine Harvest operates a fully integrated value chain spanning broodstock and hatchery operations, fish feed production, farming sites, processing facilities and global sales offices.