Marine Harvest ASA (OTCMKTS:MHGVY) Shares Gap Down – Here’s What Happened

Marine Harvest ASA (OTCMKTS:MHGVY) gapped down prior to trading on Monday . The stock had previously closed at $22.68, but opened at $21.7050. Marine Harvest ASA shares last traded at $21.7050, with a volume of 892 shares trading hands.

Wall Street Analysts Forecast Growth

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

Marine Harvest ASA Stock Performance

The stock’s fifty day simple moving average is $23.09 and its 200-day simple moving average is $22.65. The company has a quick ratio of 0.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $11.40 billion, a PE ratio of 13.60 and a beta of 1.00.

Marine Harvest ASA (OTCMKTS:MHGVY) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm had revenue of $1.88 billion for 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, research analysts predict that Marine Harvest ASA will post 0.95 earnings per share for the current fiscal 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.