Marine Harvest ASA (OTCMKTS:MHGVY) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Unusually high trading volume: MHGVY traded about 50,176 shares on Monday, a 173% increase from the prior session, while the stock last traded at $22.45 (previous close $22.56).
• Analyst sentiment leans positive: Three analysts rate the stock "Strong Buy" and two "Hold", giving an average rating of "Buy" with Barclays recently upgrading to "Strong-Buy".
• Mixed quarterly results but solid revenue and valuation: The company missed EPS expectations ($0.30 vs. $0.33) but topped revenue forecasts ($1.88B vs. $1.29B), with a market cap of ~$11.86B and a PE ratio of ~14.1.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 50,176 shares changed hands during mid-day trading, an increase of 173% from the previous session's volume of 18,356 shares.The stock last traded at $22.45 and had previously closed at $22.56.

Wall Street Analysts Forecast Growth

MHGVY has been the subject of several recent analyst reports. Pareto Securities upgraded shares of Marine Harvest ASA to a "hold" rating in a research note on Friday, January 16th. Barclays raised shares of Marine Harvest ASA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Marine Harvest ASA Trading Down 0.3%

The stock's fifty day simple moving average is $23.16 and its 200-day simple moving average is $22.77. The firm has a market cap of $11.86 billion, a PE ratio of 14.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 0.93.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.03). The company had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.29 billion. Marine Harvest ASA had a return on equity of 12.23% and a net margin of 13.70%. On average, sell-side analysts forecast that Marine Harvest ASA will post 0.95 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.