Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 8,216,772 shares, an increase of 128.0% from the August 15th total of 3,603,063 shares. Approximately 12.4% of the shares of the company are short sold. Based on an average trading volume of 15,207,310 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Investors Weigh In On Mercer International
A number of institutional investors have recently added to or reduced their stakes in MERC. BlackRock Inc. acquired a new position in Mercer International during the second quarter worth $798,000. Atlas FRM LLC purchased a new position in Mercer International during the second quarter valued at $393,882. GSA Capital Partners LLP acquired a new stake in shares of Mercer International in the second quarter valued at about $379,000. Squarepoint Ops LLC grew its position in shares of Mercer International by 773.9% in the second quarter. Squarepoint Ops LLC now owns 161,818 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 143,301 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Mercer International during the second quarter worth about $67,000. Institutional investors and hedge funds own 85.79% of the company’s stock.
Mercer International Stock Performance
Shares of MERC stock opened at $0.39 on Wednesday. The company has a market capitalization of $25.94 million, a P/E ratio of -0.05 and a beta of 0.48. The business’s 50 day moving average is $0.52 and its two-hundred day moving average is $0.91. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 23.58. Mercer International has a 12-month low of $0.35 and a 12-month high of $3.29.
Analyst Ratings Changes
MERC has been the topic of several recent research reports. TD lowered their price objective on Mercer International from $0.40 to $0.15 and set a “sell” rating on the stock in a research report on Monday, August 10th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada decreased their target price on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce lowered their price target on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $1.13.
Check Out Our Latest Stock Analysis on Mercer International
Mercer International Company Profile
Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.
Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.
The company’s facilities are located in British Columbia and the U.S.
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