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

Marine Harvest ASA (OTCMKTS:MHGVY) shares gapped down prior to trading on Friday . The stock had previously closed at $22.97, but opened at $22.12. Marine Harvest ASA shares last traded at $22.18, with a volume of 7,036 shares traded.

Wall Street Analyst Weigh In

MHGVY has been the topic of a number of recent research reports. Barclays raised Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Berenberg Bank raised shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Marine Harvest ASA Stock Performance

The stock has a 50-day simple moving average of $22.94 and a 200-day simple moving average of $21.46. The stock has a market cap of $11.68 billion, a PE ratio of 26.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.70 and a quick ratio of 0.76.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Marine Harvest ASA had a return on equity of 12.66% and a net margin of 6.99%.The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Equities analysts predict that Marine Harvest ASA will post 0.95 earnings per share 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.