Marine Harvest ASA (OTCMKTS:MHGVY) Short Interest Update

Key Points

• Short interest surged 404% to 38,821 shares as of September 15, up from 7,702 shares at the end of August. Despite the increase, short interest represented 0.0% of shares outstanding, with a short-interest ratio of 0.9 days.
• Marine Harvest shares opened at $21.09, near their 50-day and 200-day moving averages of $21.40 and $21.33, respectively. The stock’s 52-week range is $18.06 to $24.86, with a market capitalization of $11.12 billion.
• The company exceeded quarterly expectations, reporting EPS of $0.33 versus the $0.30 consensus and revenue of $1.86 billion. Analyst sentiment remained favorable overall, with an average rating of “Buy,” although two firms downgraded the stock to “Hold.”

Marine Harvest ASA (OTCMKTS:MHGVY - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 38,821 shares, an increase of 404.0% from the August 31st total of 7,702 shares. Based on an average trading volume of 40,884 shares, the short-interest ratio is presently 0.9 days. Currently, 0.0% of the shares of the company are short sold.

Marine Harvest ASA Price Performance

Shares of Marine Harvest ASA stock opened at $21.09 on Friday. The stock's 50-day simple moving average is $21.40 and its 200-day simple moving average is $21.33. Marine Harvest ASA has a 52 week low of $18.06 and a 52 week high of $24.86. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 14.85 and a beta of 0.92. 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 - Get Free Report) last released its earnings results on Tuesday, August 18th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.85 billion.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Pareto Securities cut shares of Marine Harvest ASA from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Kepler Capital Markets cut shares of Marine Harvest ASA from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy".

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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