Shares in Ocean Harvest Technology Group PLC (AIM:OHT) leapt 15% to 16.38 pence each on Monday morning in London, following the company's positive announcement of four recently completed feed trials.
The producer of seaweed ingredients for animal feed reported improvements in egg production and feed efficiency in a laying hen trial using their OceanFeed Poultry supplement.
Further data showcased that fish and juvenile shrimp, when fed with OceanFeed Aqua, had increased feed intake, weight gain, and notably higher final weight, thus lowering output costs.
Lastly, the company reported significant improvements in feed efficiency among piglets fed with OceanFeed Swine. The successful trial results signify promising progress for Ocean Harvest in the animal feed industry.
"These results add to OHT’s substantive dataset, demonstrating the efficacy of OceanFeed across a range of species, highlighting the important benefits of using OceanFeed ingredients in a number of applications," said Mark Brewer, an analyst at the corporate broker finnCap.
He repeated his 28p a share price target.