Marine Harvest ASA (OTCMKTS:MHGVY) Sees Significant Drop in Short Interest

Marine Harvest ASA (OTCMKTS:MHGVY) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 6,366 shares, a decline of 80.0% from the October 15th total of 31,788 shares. Based on an average trading volume of 42,983 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Marine Harvest ASA Stock Performance

Marine Harvest ASA stock traded down $0.22 during mid-day trading on Thursday, reaching $23.59. 2,969 shares of the company’s stock were exchanged, compared to its average volume of 24,212. The business’s fifty day simple moving average is $22.13 and its 200 day simple moving average is $21.82. The company has a quick ratio of 1.11, a current ratio of 3.32 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $12.44 billion, a PE ratio of 14.93 and a beta of 0.85. Marine Harvest ASA has a one year low of $18.06 and a one year high of $24.86.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Marine Harvest ASA had a return on equity of 13.64% and a net margin of 11.86%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MHGVY. Kepler Capital Markets cut shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. The Goldman Sachs Group raised shares of Marine Harvest ASA to a “hold” rating in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Marine Harvest ASA Company Profile

Marine Harvest ASA was a Norwegian seafood company focused primarily on salmon farming. Its operations covered the salmon production chain, including fish farming, processing and the sale of fresh and value-added seafood products. The company served markets around the world and operated aquaculture and processing activities in several regions, including Norway, Scotland, Ireland, Canada and Chile. In 2019, Marine Harvest changed its name to Mowi ASA, reflecting the name of its founding company. Mowi continues the business as a global producer of farm-raised salmon.