Marine Harvest ASA (OTCMKTS:MHGVY) Sees Strong Trading Volume – Still a Buy?

Shares of Marine Harvest ASA (OTCMKTS:MHGVY) saw strong trading volume on Thursday . 22,455 shares changed hands during trading, an increase of 66% from the previous session’s volume of 13,521 shares.The stock last traded at $23.94 and had previously closed at $24.24.

Analysts Set New Price Targets

MHGVY has been the topic of a number of recent research reports. Barclays raised shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Berenberg Bank raised shares of Marine Harvest ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Finally, Pareto Securities upgraded shares of Marine Harvest ASA to a “hold” rating in a research report on Friday, January 16th. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Marine Harvest ASA currently has a consensus rating of “Buy”.

Marine Harvest ASA Trading Up 0.5%

The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 2.70. The stock has a market capitalization of $12.61 billion, a P/E ratio of 15.04 and a beta of 1.02. The firm’s fifty day simple moving average is $23.25 and its 200 day simple moving average is $22.00.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its quarterly earnings data 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). Marine Harvest ASA had a net margin of 13.70% and a return on equity of 12.85%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.29 billion. As a group, equities research analysts forecast that Marine Harvest ASA will post 0.95 EPS for the current fiscal year.

Marine Harvest ASA Company Profile

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.