Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) Sees Large Growth in Short Interest

Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 104,432 shares, a growth of 10,491.5% from the November 30th total of 986 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 26,070 shares, the short-interest ratio is currently 4.0 days. Based on an average daily volume of 26,070 shares, the short-interest ratio is currently 4.0 days. Approximately 0.5% of the company’s shares are short sold.

Asia Pacific Wire & Cable Trading Up 2.6%

NASDAQ:APWC traded up $0.05 during mid-day trading on Wednesday, reaching $1.97. 6,008 shares of the company’s stock traded hands, compared to its average volume of 10,505. Asia Pacific Wire & Cable has a 12-month low of $1.36 and a 12-month high of $2.34. The firm has a market capitalization of $40.62 million, a price-to-earnings ratio of 9.38 and a beta of 0.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.54 and a quick ratio of 1.32. The company has a 50 day moving average price of $1.82 and a 200-day moving average price of $1.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Asia Pacific Wire & Cable in a report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Asia Pacific Wire & Cable

An institutional investor recently raised its position in Asia Pacific Wire & Cable stock. Susquehanna International Group LLP increased its stake in Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) by 57.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,901 shares of the company’s stock after buying an additional 11,676 shares during the period. Susquehanna International Group LLP owned 0.15% of Asia Pacific Wire & Cable worth $66,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.00% of the company’s stock.

Asia Pacific Wire & Cable Company Profile

Asia Pacific Wire & Cable Co, Ltd. is a Thailand-based manufacturer and distributor of electrical wire and cable products. The company specializes in a broad range of products, including low- and medium-voltage power cables, building wires, control and instrumentation cables, telecommunications cables, and specialty conductors. Through its integrated production facilities in the Bangkadi Industrial Estate near Bangkok, Asia Pacific Wire & Cable serves both domestic construction and industrial markets as well as export customers across Southeast Asia.

Founded in 1979, Asia Pacific Wire & Cable has grown from a local wire producer into a regional supplier recognized for its quality control and adherence to international standards.