Atlantic Sapphire CEO Johan Andreassen and interim Chief Operating Officer (COO) Bjorn-Vegard Lovik on Wednesday acquired NOK 3.4 million ($400,000/€350,000) worth of shares in the company they co-founded as the troubled land-based salmon farmer worked to bolster investor confidence.

Andreassen and Lovik acquired 100,000 shares of Atlantic Sapphire at a value of NOK 33.70 (€3.46/$4.02) via investment group Alsco.

The purchase comes the same day that investment bank Kepler Cheuvreux slashed its target price for the company's shares in half and downgraded its harvest volume expectation.