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

Marine Harvest ASA (OTCMKTS:MHGVY) shares gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Berenberg Bank upgraded Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Marine Harvest ASA Price Performance

The company has a market cap of $11.73 billion, a P/E ratio of 26.16 and a beta of 1.02. The firm’s 50-day moving average is $22.94 and its two-hundred day moving average is $21.50. 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 released its quarterly earnings data on Wednesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Marine Harvest ASA had a net margin of 6.99% and a return on equity of 12.66%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Analysts anticipate that Marine Harvest ASA will post 0.95 earnings per share for the current year.

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.