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

Shares of 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.

Analyst Ratings Changes

MHGVY has been the subject of several recent analyst reports. Pareto Securities downgraded shares of Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Kepler Capital Markets downgraded Marine Harvest ASA from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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’s fifty day moving average is $21.37 and its 200-day moving average is $21.36. The company has a quick ratio of 1.11, a current ratio of 3.32 and a debt-to-equity ratio of 0.78.

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

About Marine Harvest ASA

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.