Mercer International (NASDAQ:MERC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.54 and traded as high as $6.79. Mercer International shares last traded at $6.65, with a volume of 140,078 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MERC. Royal Bank of Canada reiterated a “sector perform” rating and set a $7.00 price target on shares of Mercer International in a research note on Monday, November 4th. StockNews.com upgraded Mercer International from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Raymond James cut their price target on Mercer International from $7.50 to $7.00 in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Mercer International presently has a consensus rating of “Hold” and a consensus price target of $8.25.

Mercer International Trading Down 1.4 %

The stock has a market cap of $438.67 million, a P/E ratio of -2.32 and a beta of 1.29. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.39 and a current ratio of 3.79. The stock has a 50-day moving average price of $6.49 and a 200-day moving average price of $6.53.

Institutional Trading of Mercer International

A number of large investors have recently modified their holdings of MERC. Entropy Technologies LP bought a new stake in Mercer International in the 3rd quarter worth approximately $75,000. BNP Paribas Financial Markets increased its stake in shares of Mercer International by 22.7% during the third quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock valued at $248,000 after buying an additional 6,786 shares during the period. Quantbot Technologies LP increased its stake in shares of Mercer International by 505.8% during the third quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock valued at $335,000 after buying an additional 41,315 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Mercer International by 1.7% during the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock valued at $3,559,000 after buying an additional 8,957 shares during the period. Institutional investors own 85.79% of the company’s stock.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.