Marine Harvest ASA (OTCMKTS:MHGVY) Short Interest Down 69.5% in August

Key Points

• Short interest plunged 69.5% in August to 7,702 shares, representing approximately 0.0% of outstanding shares and just 0.2 days of average trading volume.
• Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Buy” rating, although Pareto Securities and Kepler Capital Markets each downgraded the stock from “strong buy” to “hold.”
• MHGVY shares rose 2.0% to $22.16, while quarterly results exceeded expectations: EPS was $0.33 versus a $0.30 estimate, and revenue reached $1.86 billion against an $1.85 billion consensus.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 7,702 shares, a drop of 69.5% from the August 15th total of 25,253 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily trading volume, of 35,411 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

MHGVY has been the subject of several research reports. Pareto Securities cut 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 lowered shares of Marine Harvest ASA from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Two 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, Marine Harvest ASA has a consensus rating of "Buy".

Marine Harvest ASA Stock Up 2.0%

Shares of MHGVY stock traded up $0.43 during mid-day trading on Friday, hitting $22.16. The stock had a trading volume of 19,314 shares, compared to its average volume of 17,781. Marine Harvest ASA has a 12-month low of $18.06 and a 12-month high of $24.86. The firm has a market capitalization of $11.68 billion, a P/E ratio of 15.61 and a beta of 0.92. The firm's 50-day moving average is $21.05 and its two-hundred day moving average is $21.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.15 and a quick ratio of 1.02.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Marine Harvest ASA had a return on equity of 11.78% and a net margin of 11.19%.

Marine Harvest ASA Company Profile

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.

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