Marine Harvest ASA (OTCMKTS:MHGVY) Shares Gap Down – Here’s What Happened

Marine Harvest ASA (OTCMKTS:MHGVY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.00, but opened at $23.1950. Marine Harvest ASA shares last traded at $23.20, with a volume of 10,832 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on MHGVY. Berenberg Bank raised Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Barclays upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Marine Harvest ASA Stock Up 0.3%

The company has a 50 day simple moving average of $22.85 and a two-hundred day simple moving average of $21.33. The company has a current ratio of 2.70, a quick ratio of 0.76 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $12.22 billion, a P/E ratio of 27.26 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Marine Harvest ASA had a net margin of 6.99% and a return on equity of 12.66%. On average, equities analysts predict that Marine Harvest ASA will post 0.95 EPS 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.