Before Marine Harvest’s share price slid 10 percent Friday and 1.8 percent Monday, to NOK 3.36 (€3.36/$4.93), analysts said a recent rebound in the company’s stock market value could continue well into the new year.

Glitnir Securities analyst Henning Lund pinpointed four reasons for this, including an expected rebound from stock price falls last year; encouraging salmon price developments; a succession of share buying by those with close links to the company; and a new management team.

Higher salmon prices and the appointment of Marine Harvest’s new CEO, Ase Aulie Michelet, are the main sources of renewed optimism.

“The market reads her installment as a positive sign, and it correlates with Michelet’s past performances. She has both international experience, and production experience,” Lund told IntraFish.

The first three months of the year will likely be the kindest to the aquaculture industry, according to DnB Nor Markets analyst Klaus Hatlebrekke.

“What will happen towards summer, on the other hand, is more uncertain,” Hatlebrekke said.

Fredriksen, Marine Harvest’s main shareholder, increased his stake in the company last week after buying eight million shares through his investment vehicle, Geveran Trading. On Thursday, Geveran Trading bought shares valued at NOK 3.91 (€0.49/$0.72) each under total return swaps (TRS) agreements expiring July 4.

The latest deal, worth NOK 31.2 million (€3.9 million/$5.8 million), means Geveran holds just over one billion shares, representing 28.9 percent of the issued share capital in the company, in addition to a separate 70 million shares.

Just a day before, Geveran Trading bought three million shares valued at €1.4 million ($2.2 million) under total return swaps (TRS) deals expiring July 3. On Tuesday, he purchased an additional 7.5 million shares.

”Fredriksen will most likely profit nicely on the way the share’s value develops in the long-term,” said Hatlebrekke.

Analysts cautious on Marine Harvest outlook