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

Marine Harvest ASA (OTCMKTS:MHGVY) saw unusually-strong trading volume on Tuesday. Approximately 41,241 shares changed hands during mid-day trading, an increase of 68% from the previous session’s volume of 24,610 shares. The stock last traded at $22.73 and had previously closed at $22.55.

Analyst Ratings Changes

MHGVY has been the subject of several analyst reports. Kepler Capital Markets cut Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Pareto Securities lowered Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group raised Marine Harvest ASA to a “hold” rating in a research report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marine Harvest ASA presently has an average rating of “Moderate Buy”.

Marine Harvest ASA Price Performance

The stock has a market cap of $11.98 billion, a PE ratio of 16.00 and a beta of 0.92. The company has a 50-day simple moving average of $21.60 and a 200-day simple moving average of $21.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.32 and a quick ratio of 1.11.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its quarterly earnings results on Tuesday, August 18th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Marine Harvest ASA had a net margin of 11.19% and a return on equity of 11.74%.

Marine Harvest ASA Company Profile

Marine Harvest ASA was a Norway-based seafood company focused on the farming, processing and sale of Atlantic salmon. Its operations included hatcheries, marine fish farms, processing facilities and seafood distribution, supporting an integrated value chain from egg production through finished food products.

The company marketed fresh and prepared salmon products to retailers, food-service operators and other customers in international markets. Its activities historically covered major salmon-farming regions including Norway, Scotland, Chile, Canada, Ireland and the Faroe Islands, with products sold across Europe, the Americas and Asia.

Marine Harvest changed its name to Mowi ASA in 2019, adopting the name associated with one of its historical salmon brands.