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

Marine Harvest ASA (OTCMKTS:MHGVY) gapped up before the market opened on Wednesday . The stock had previously closed at $20.53, but opened at $21.3265. Marine Harvest ASA shares last traded at $21.27, with a volume of 665 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Pareto Securities downgraded shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Kepler Capital Markets downgraded shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Marine Harvest ASA Stock Up 1.9%

The stock has a market capitalization of $11.24 billion, a PE ratio of 15.01 and a beta of 0.92. The firm has a 50 day moving average of $21.37 and a two-hundred day moving average of $21.36. The company has a current ratio of 3.32, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its earnings results on Tuesday, August 18th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. Marine Harvest ASA had a return on equity of 11.74% and a net margin of 11.19%.

Marine Harvest ASA Company Profile

Marine Harvest ASA was a Norwegian seafood company focused primarily on the farming, processing and marketing of Atlantic salmon. Its activities covered the aquaculture value chain, including hatcheries, marine farming operations, harvesting, processing and distribution. The company sold fresh and prepared salmon products to retailers, food-service providers and industrial customers.

Marine Harvest operated internationally, with salmon-farming and processing activities in major production regions including Norway, Scotland, Canada, Chile, Ireland and the Faroe Islands.