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

Marine Harvest ASA (OTCMKTS:MHGVY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $24.00, but opened at $23.1950. Marine Harvest ASA shares last traded at $23.20, with a volume of 10,832 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MHGVY. Berenberg Bank upgraded shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Barclays raised Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Marine Harvest ASA Trading Down 3.2%

The company has a 50 day moving average of $22.81 and a 200 day moving average of $21.27. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 27.34 and a beta of 1.02. The company has a current ratio of 2.70, a quick ratio of 0.76 and a debt-to-equity ratio of 0.55.

Marine Harvest ASA (OTCMKTS:MHGVY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Marine Harvest ASA had a return on equity of 12.66% and a net margin of 6.99%.The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. As a group, research analysts anticipate that Marine Harvest ASA will post 0.95 EPS 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.