Mercer International Inc. (NASDAQ:MERC) Short Interest Up 128.0% in August

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 8,216,772 shares, a growth of 128.0% from the August 15th total of 3,603,063 shares. Based on an average daily trading volume, of 15,207,310 shares, the short-interest ratio is presently 0.5 days. Currently, 12.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. TD decreased their target price on shares of Mercer International from $0.40 to $0.15 and set a “sell” rating for the company in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce cut their price target on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Royal Bank Of Canada decreased their price objective on Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a report on Friday, July 17th. Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $1.13.

Mercer International Stock Performance

Shares of NASDAQ MERC traded down $0.00 during midday trading on Tuesday, reaching $0.39. The company had a trading volume of 354,216 shares, compared to its average volume of 1,526,306. Mercer International has a 1 year low of $0.35 and a 1 year high of $3.29. The business’s 50-day simple moving average is $0.53 and its 200 day simple moving average is $0.92. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 23.58. The stock has a market cap of $25.94 million, a P/E ratio of -0.05 and a beta of 0.48.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its earnings results on Thursday, August 6th. The basic materials company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.18). Mercer International had a negative net margin of 27.86% and a negative return on equity of 352.57%. The firm had revenue of $460.28 million during the quarter, compared to analyst estimates of $476.00 million. On average, analysts forecast that Mercer International will post -3.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC raised its position in Mercer International by 773.9% during the 2nd quarter. Squarepoint Ops LLC now owns 161,818 shares of the basic materials company’s stock worth $107,000 after buying an additional 143,301 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Mercer International in the second quarter worth $67,000. Atlas FRM LLC purchased a new position in shares of Mercer International during the second quarter worth $393,882. BlackRock Inc. acquired a new position in Mercer International during the second quarter valued at $798,000. Finally, GSA Capital Partners LLP purchased a new stake in Mercer International in the second quarter valued at $379,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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.