Stock of the Day: Is Buying 52-Week Stock Like Marine Harvest ASA a Winning Strategy?

Stock of the Day: Is Buying 52 Week Stock Like Marine Harvest ASA a Winning Strategy?

The stock of Marine Harvest ASA (NYSE:MHG) hit a new 52-week high and has $21.54 target or 20.00% above today’s $17.95 share price. The 9 months bullish chart indicates low risk for the $7.72B company. The 1-year high was reported on Sep, 30 by If the $21.54 price target is reached, the company will be worth $1.54 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 56,824 shares traded hands. Marine Harvest ASA (NYSE:MHG) has risen 19.50% since February 26, 2016 and is uptrending. It has outperformed by 9.07% the S&P500.

According to Zacks Investment Research, “Marine Harvest ASA is involved in the production and marketing of seafood. The Company’s product portfolio comprises salmon, halibut, coated seafood, smoked seafood and elaborated seafood, among others. It operates within three segments namely Farming, Sales and MH VAP Europe. Marine Harvest ASA is based in Oslo, Norway.”

Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.47, from 0.66 in 2016Q1. The ratio is positive, as 5 funds sold all Marine Harvest ASA shares owned while 18 reduced positions. 11 funds bought stakes while 15 increased positions. They now own 50.19 million shares or 5.30% more from 47.67 million shares in 2016Q1.
Morgan Stanley has 0% invested in the company for 96,074 shares. Fincl Bank Of America De holds 0% of its portfolio in Marine Harvest ASA (NYSE:MHG) for 358,033 shares. Moreover, Guggenheim Capital Limited Liability Corporation has 0.01% invested in Marine Harvest ASA (NYSE:MHG) for 172,121 shares. Reynders Mcveigh Mgmt Limited accumulated 55,750 shares or 0.14% of the stock. Walleye Trading Ltd Limited Liability Company has invested 0% of its portfolio in Marine Harvest ASA (NYSE:MHG). Royal Retail Bank Of Canada, a Ontario – Canada-based fund reported 14,548 shares. Td Asset Management Inc accumulated 12,320 shares or 0% of the stock. The California-based Checchi Cap Advisers Ltd Llc has invested 0.01% in Marine Harvest ASA (NYSE:MHG). Savings Bank Of Montreal Can owns 5,937 shares or 0% of their US portfolio. Jpmorgan Chase holds 0% of its portfolio in Marine Harvest ASA (NYSE:MHG) for 1,030 shares. Moreover, Ngam Ltd Partnership has 0% invested in Marine Harvest ASA (NYSE:MHG) for 17,898 shares. Kistler holds 0% of its portfolio in Marine Harvest ASA (NYSE:MHG) for 43 shares. Deutsche Financial Bank Ag holds 13,175 shares or 0% of its portfolio. Euclid Advisors Lc accumulated 0.17% or 238,183 shares. Commerzbank Aktiengesellschaft Fi has 0% invested in the company for 15,530 shares.

More notable recent Marine Harvest ASA (NYSE:MHG) news were published by: which released: “Marine Harvest Seeks Rare Buy Opportunities After Grieg Exit” on May 27, 2016, also with their article: “Marine Harvest ASA” published on April 18, 2011, published: “Marine Harvest’s (MHG) Q2 2016 Results – Earnings Call Transcript” on August 18, 2016. More interesting news about Marine Harvest ASA (NYSE:MHG) were released by: and their article: “Marine Harvest ASA (OSE: MHG, NYSE: MHG): 2015 Annual Report / 20-F” published on April 01, 2016 as well as‘s news article titled: “Marine Harvest: Sell Fredriksen’s Soon To Expire Salmon” with publication date: May 16, 2016.

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