Marine Harvest ASA (OTCMKTS:MHGVY) Sees Strong Trading Volume – Here’s Why

Shares of Marine Harvest ASA (OTCMKTS:MHGVY) saw an uptick in trading volume on Tuesday. 41,241 shares traded hands during 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Pareto Securities lowered shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group raised Marine Harvest ASA to a “hold” rating in a research note on Friday, October 2nd. Finally, Kepler Capital Markets downgraded Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Marine Harvest ASA Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 3.32. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 16.00 and a beta of 0.92. The stock’s 50-day simple moving average is $21.60 and its two-hundred day simple moving average is $21.20.

Marine Harvest ASA (OTCMKTS:MHGVY) last issued its quarterly earnings results on Tuesday, August 18th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm 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.