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

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 572,000 shares, a growth of 21.7% from the January 15th total of 470,200 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 282,800 shares, the short-interest ratio is currently 2.0 days.

Mercer International Stock Down 3.3 %

Shares of MERC traded down $0.22 during mid-day trading on Wednesday, hitting $6.50. 221,352 shares of the company's stock were exchanged, compared to its average volume of 227,949. Mercer International has a fifty-two week low of $5.33 and a fifty-two week high of $11.20. The company has a market cap of $434.66 million, a price-to-earnings ratio of -2.30 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's 50-day moving average is $6.52 and its 200-day moving average is $6.46.

Analyst Upgrades and Downgrades

MERC has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $7.00 price target on shares of Mercer International in a research note on Monday, November 4th. Raymond James cut their price target on shares of Mercer International from $7.50 to $7.00 in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Mercer International has a consensus rating of "Hold" and an average target price of $8.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Entropy Technologies LP increased its holdings in shares of Mercer International by 56.0% in the fourth quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company's stock valued at $112,000 after purchasing an additional 6,200 shares during the period. BNP Paribas Financial Markets boosted 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 buying an additional 6,786 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mercer International by 1.7% during the 3rd 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 last quarter. KLP Kapitalforvaltning AS purchased a new position in Mercer International in the 4th quarter valued at about $58,000. Finally, Quantbot Technologies LP boosted its holdings 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 worth $335,000 after purchasing an additional 41,315 shares during the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

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.