Mercer International Inc. (NASDAQ:MERC) Sees Large Increase in Short Interest

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 572,000 shares, an increase of 21.7% from the January 15th total of 470,200 shares. Based on an average daily volume of 282,800 shares, the short-interest ratio is currently 2.0 days. Approximately 1.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Mercer International

Several hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Mercer International in the fourth quarter worth about $58,000. Entropy Technologies LP bought a new stake in Mercer International during the 3rd quarter valued at $75,000. BNP Paribas Financial Markets raised its position in shares of Mercer International by 22.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 6,786 shares in the last quarter. Quantbot Technologies LP boosted its position 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 valued at $335,000 after purchasing an additional 41,315 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Mercer International by 1.7% in the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock worth $3,559,000 after purchasing an additional 8,957 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MERC shares. Raymond James reduced their target price on Mercer International from $7.50 to $7.00 in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $7.00 price objective on shares of Mercer International in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.25.

Mercer International Stock Performance

Shares of MERC traded up $0.03 during trading hours on Monday, hitting $6.54. The stock had a trading volume of 140,362 shares, compared to its average volume of 221,315. Mercer International has a 12 month low of $5.33 and a 12 month high of $11.20. The firm has a market capitalization of $437.33 million, a PE ratio of -2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.79 and a quick ratio of 2.39. The stock has a fifty day moving average price of $6.53 and a 200 day moving average price of $6.47.

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.