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) passed 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 trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on MERC shares. StockNews.com upgraded Mercer International from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $7.00 target price on shares of Mercer International in a research report on Monday, November 4th. Finally, Raymond James reduced their price target on Mercer International from $7.50 to $7.00 in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Mercer International Stock Performance

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

Hedge Funds Weigh In On Mercer International

A number of institutional investors have recently modified their holdings of the company. Entropy Technologies LP bought a new stake in Mercer International during the third quarter worth $75,000. Quantbot Technologies LP grew its holdings in Mercer International by 505.8% during the third quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock worth $335,000 after buying an additional 41,315 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in 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 worth $248,000 after buying an additional 6,786 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 worth $3,559,000 after buying an additional 8,957 shares in the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Mercer International Company Profile

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.