Marine Harvest ASA (OTCMKTS:MHGVY) Sees Large Volume Increase – Here’s Why

Marine Harvest ASA (OTCMKTS:MHGVY) shares saw an uptick in trading volume on Thursday . 22,455 shares were traded during trading, an increase of 66% from the previous session’s volume of 13,521 shares.The stock last traded at $23.94 and had previously closed at $24.24.

Wall Street Analyst Weigh In

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

Marine Harvest ASA Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 2.70. The firm has a 50 day moving average price of $23.23 and a two-hundred day moving average price of $21.95. The company has a market capitalization of $12.54 billion, a P/E ratio of 27.99 and a beta of 1.02.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its earnings results on Wednesday, February 11th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.29 billion. Marine Harvest ASA had a return on equity of 12.66% and a net margin of 6.99%. On average, research analysts expect that Marine Harvest ASA will post 0.95 earnings per share for the current fiscal year.

About Marine Harvest ASA

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.