Marine Harvest ASA (OTCMKTS:MHGVY) Short Interest Up 496.0% in August

Key Points

• Short interest surged 496% in August to 25,253 shares, though that represents 0.0% of shares outstanding and only 1.2 days of average trading volume.
• Analyst sentiment remains positive overall with an average “Buy” rating, but Pareto Securities and Kepler Capital Markets both downgraded the stock from “Strong Buy” to “Hold.”
• Marine Harvest exceeded quarterly expectations, reporting $0.33 in EPS versus a $0.30 estimate and $1.86 billion in revenue versus a $1.85 billion consensus estimate.

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 25,253 shares, a growth of 496.0% from the July 30th total of 4,237 shares. Based on an average daily volume of 21,814 shares, the short-interest ratio is presently 1.2 days. Currently, 0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MHGVY shares. Pareto Securities lowered 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 equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

Marine Harvest ASA Price Performance

Shares of OTCMKTS:MHGVY opened at $22.32 on Wednesday. The company has a market cap of $11.77 billion, a P/E ratio of 15.72 and a beta of 0.92. The business has a fifty day simple moving average of $20.36 and a 200-day simple moving average of $21.63. Marine Harvest ASA has a 52 week low of $18.06 and a 52 week high of $24.86. The company has a quick ratio of 1.02, a current ratio of 3.15 and a debt-to-equity ratio of 0.68.

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

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.

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