Salmar ASA Stock Price Sees Increase Following Analyst Upgrades and Insider Purchases
Salmar ASA, a Norwegian company engaged in farmed salmon production, has experienced a rise in its stock price over recent days. This development follows upgrades to the company’s price targets by analysts Kepler Cheuvreux and Pareto Securities.
- Kepler Cheuvreux has set a new price target of 530 NOK.
- Pareto Securities has set a new price target of 550 NOK.
The upgrades come after the company’s CEO and CTO announced their purchase of shares in Salmar ASA. However, the company’s second-quarter earnings report revealed a decline in operating profit, which fell short of market expectations.
Key highlights from the earnings report include:
- A decline in operating profit
- Shortfall in earnings compared to market expectations
In an effort to stabilize the company’s stock price, Salmar ASA has initiated a share buyback program. The program aims to purchase up to 100,000 shares, with commencement expected in the near future.