Marine Harvest ASA (OTCMKTS:MHGVY) Sees Large Volume Increase – Here’s Why

Marine Harvest ASA (OTCMKTS:MHGVY) shares saw unusually-high trading volume on Monday . Approximately 24,794 shares traded hands during mid-day 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.

Analysts Set New Price Targets

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

Marine Harvest ASA Stock Performance

The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 10.06 and a beta of 0.93. The firm’s 50-day moving average price is $20.78 and its two-hundred day moving average price is $22.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.02 and a current ratio of 3.15.

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

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.