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Pescanova Stocks

You can locate the value of the Pescanova stocks in the BME index of the Madrid Stock Exchange. You can then follow the development of the action.

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The Pescanova company was founded in the mid-1960s. Since it was founded, it has developed a technology that is unknown today. This technology is for the complete processing of the fish manufacturing using large freezer vessels that process and ultra-freeze the catches on board.

This innovation generated a revolution in the deep-frozen fish sector, causing significant growth and positioning itself as the undisputed leader at the national and international levels. It has subsidiaries in Italy, Portugal, and France and plants in Honduras and Namibia.

Today, Pescanova comprises a conglomerate of companies dedicated to capturing, processing, production, and distribution of seafood. This includes pre-cooked, ready meals and deep-frozen. Pescanova stocks are listed on the Madrid Stock Exchange.

Why does the value of Pescanova stocks rise if it is barely related to Nueva Pescanova?

The possibility of selling the new Pescanova by Abanca has triggered the value of the old Pescanova stocks still traded on the stock exchange. But the reality is that every day one has nothing to do with the other. After the last capital increase, the old administrators of this company saw their participation reduced to 0.34%, with a value of 1.1 million euros.

The former Pescanova has a market capitalization of almost 17 million euros today. Pescanova stocks have soared again by more than 14 percent until Pescanova stocks are listed at around 60 cents of euros. The company closed the day with a 5.5% increase to reach 55 cents for Pescanova stocks today.

The company’s revaluation coincides with Abanca’s intention to sell most of its stake in the new pescanova stocks in the medium term. He wants to make this sale to an industrial partner, according to a report sent by the financial institution to the CNMV.

Are the old and the new Pescanova closely linked?

The old Pescanova is a holding company in which its main asset is the 0.34% stake in the stocks that the new Pescanova has in its sister, which implies that the direction of both is closely linked. Pescanova Vieja stocks registered a significant rebound on the Spanish stock market.

The link between the two that the only income recorded by the old Pescanova in the first quarter of 2021 was 67 thousand euros corresponding to the new Pescanova.

Abanca has taken over the vast majority of Nueva Pescanova, which were under the control of the creditor banks. In 2020, it acquired 39.8% of the company’s capital stock, increasing its stake to 80% of the stocks of the fishing company.

Likewise, for February 2021, Abanca agreed to increase its capital by adding 269 million euros by offsetting its financial debt, and the amount came from the same agreement established with the Pescanova creditors.

Pescanova stocks the latest news about Pescanova stocks indicate that the new share capital was 337 million euros and started with a nominal value of 0.47 euros per share. In the Pescanova Actions forum, it is heard that if Abanca sells the new Pescanova, the old Pescanova should move around the selling prices.

What has been the behavior of the value of Pescanova shares lately?

According to the historical behavior of Pescanova stocks in the last 2 months of 2021 and of the Pescanova stocks opinions of the experts, the Pescanova stocks have had a stable behavior with a small downward trend. Its value has remained between 0.40 and 0.60 euros between May and June 2021.

If the analysis is long-term, it can be said that there was bullish behavior between November 2020 and February 2021. The caused the stock price to move from 0.35 to 0.75 euros.

The reduction was corrected by a relevant downward reaction in the following months. That placed the price at 0.45 euros in mid-May. For this reason, apparent stability is observed. This makes Pescanova stocks recommendations for investors to buy stocks for the short term, nothing more, because it is tough to predict their long-term behavior.

Pescanova stocks Vs. other stocks

Pescanova stocks currently have a value of around 0.52 euros per stock. If you want to make a comparison with other companies that are still trading on the stock market, you have:

Day stocks are in the order of 0.069 euros per share and with a very marked downward trend. This stock is 0.43 points below the Pescanova share. Sabadell stocks have a value of 0.59 with a strong downward trend. However, it is currently 0.07 points above those of Pescanova.

Repsol stocks are at 10.74 euros. As an energy company, its value is well above the value of Pescanova stocks. The prosegur stocks have a value of 2.60 euros with a strong downward trend, but it is well above Pescanova.

Santander stocks are in the order of 3.29 euros with a downward trend, although it is well above the value of Pescanova stocks. Telefónica stocks have a value of 3.97 euros with a downward trend; they are also above Pescanova. And Iberia stocks have a value of 2.31 euros with a downward trend.

When looking at the downtrend of all stocks, the question would be why this common behavior? And the answer is that the declaration of a Pandemic, a product of the Covid-19 virus, has greatly affected stock market behavior worldwide.