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

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 3,268,299 shares, a growth of 20.5% from the February 12th total of 2,711,220 shares. Based on an average trading volume of 779,720 shares, the short-interest ratio is presently 4.2 days. Currently, 4.9% of the company’s shares are sold short. Currently, 4.9% of the company’s shares are sold short. Based on an average trading volume of 779,720 shares, the short-interest ratio is presently 4.2 days.

Mercer International Trading Down 1.4%

NASDAQ:MERC traded down $0.02 during trading hours on Tuesday, hitting $1.44. The stock had a trading volume of 184,874 shares, compared to its average volume of 639,381. Mercer International has a one year low of $1.43 and a one year high of $6.78. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.79 and a current ratio of 3.05. The company has a market cap of $96.45 million, a price-to-earnings ratio of -0.19 and a beta of 0.68. The business’s 50 day moving average is $2.04 and its 200-day moving average is $2.23.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The firm had revenue of $449.50 million during the quarter, compared to analyst estimates of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. Sell-side analysts anticipate that Mercer International will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MERC shares. TD Cowen downgraded Mercer International from a “hold” rating to a “sell” rating and increased their price target for the company from $2.00 to $2.25 in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Finally, TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.95.

Institutional Trading of Mercer International

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Mercer International by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares during the period. Millennium Management LLC increased its holdings in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after acquiring an additional 137,906 shares in the last quarter. Iat Reinsurance Co. LTD. raised its position in shares of Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after purchasing an additional 220,000 shares during the period. Gabelli Funds LLC bought a new position in shares of Mercer International during the 2nd quarter valued at about $1,804,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Mercer International in the 2nd quarter valued at approximately $244,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

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.