Mercer International Inc. (NASDAQ:MERC) Short Interest Up 20.5% in February

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 3,268,299 shares, an increase of 20.5% from the February 12th total of 2,711,220 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 779,720 shares, the short-interest ratio is currently 4.2 days. Based on an average daily trading volume, of 779,720 shares, the short-interest ratio is currently 4.2 days. Currently, 4.9% of the shares of the stock are sold short.

Mercer International Price Performance

Shares of MERC traded down $0.02 during mid-day trading on Tuesday, hitting $1.44. 184,874 shares of the company traded hands, compared to its average volume of 639,381. The company has a current ratio of 3.05, a quick ratio of 1.79 and a debt-to-equity ratio of 23.58. The stock has a market capitalization of $96.45 million, a price-to-earnings ratio of -0.19 and a beta of 0.68. The business has a 50-day moving average of $2.04 and a 200 day moving average of $2.23. Mercer International has a one year low of $1.43 and a one year high of $6.78.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The company had revenue of $449.50 million during the quarter, compared to the consensus estimate of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. As a group, equities analysts expect that Mercer International will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercer International

Several hedge funds have recently added to or reduced their stakes in MERC. Geode Capital Management LLC increased its position in Mercer International by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after purchasing an additional 14,603 shares during the period. Gamco Investors INC. ET AL acquired a new position in Mercer International during the 2nd quarter valued at about $244,000. Millennium Management LLC boosted its stake in shares of Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Jump Financial LLC grew its position in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares during the period. Finally, Iat Reinsurance Co. LTD. grew its position in shares of Mercer International by 1.3% during the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after buying an additional 220,000 shares during the period. Institutional investors own 85.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and increased their price target for the stock from $2.00 to $2.25 in a research report on Wednesday, January 21st. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $2.95.

Mercer International Company Profile

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.