Marine Harvest ASA (OTCMKTS:MHGVY) Stock Price Up 5.6% – What’s Next?

Marine Harvest ASA (OTCMKTS:MHGVY) shot up 5.6% on Wednesday . The company traded as high as $22.90 and last traded at $22.90. Approximately 9,688 shares changed hands during trading, a decline of 60% from the average daily volume of 23,961 shares. The stock had previously closed at $21.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Kepler Capital Markets downgraded Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Pareto Securities downgraded Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Marine Harvest ASA has an average rating of “Buy”.

Marine Harvest ASA Trading Down 4.4%

The company has a quick ratio of 1.02, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $20.98 and its 200-day moving average price is $21.47. The stock has a market capitalization of $11.46 billion, a P/E ratio of 15.30 and a beta of 0.92.

Marine Harvest ASA (OTCMKTS:MHGVY) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.33 EPS for the quarter, topping 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 11.78%.

Marine Harvest ASA Company Profile

Marine Harvest ASA was a Norwegian seafood company focused primarily on the farming, processing and marketing of Atlantic salmon. Its activities covered the aquaculture value chain, including hatcheries, marine farming operations, harvesting, processing and distribution. The company sold fresh and prepared salmon products to retailers, food-service providers and industrial customers.

Marine Harvest operated internationally, with salmon-farming and processing activities in major production regions including Norway, Scotland, Canada, Chile, Ireland and the Faroe Islands.