Marine Harvest ASA (OTCMKTS:MHGVY) Sees Unusually-High Trading Volume – Still a Buy?

Marine Harvest ASA (OTCMKTS:MHGVY) shares saw an uptick in trading volume on Monday . Approximately 24,794 shares were traded during trading, an increase of 2% from the previous session’s volume of 24,201 shares.The stock last traded at $18.7227 and had previously closed at $18.24.

Wall Street Analysts Forecast Growth

MHGVY has been the subject of several research reports. Pareto Securities cut shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Kepler Capital Markets raised Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Marine Harvest ASA has an average rating of “Strong Buy”.

Marine Harvest ASA Stock Performance

The stock’s 50-day moving average is $20.67 and its 200-day moving average is $22.21. The company has a current ratio of 3.15, a quick ratio of 1.02 and a debt-to-equity ratio of 0.68. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 10.10 and a beta of 0.93.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Marine Harvest ASA had a net margin of 15.18% and a return on equity of 11.68%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion.

About Marine Harvest ASA

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.