Asia Pacific Wire & Cable (NASDAQ:APWC) Shares Down 5% – Here’s Why

Shares of Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) dropped 5% on Wednesday . The company traded as low as $1.67 and last traded at $1.69. Approximately 4,264 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 12,369 shares. The stock had previously closed at $1.7796.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Asia Pacific Wire & Cable in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Asia Pacific Wire & Cable Stock Down 5.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 2.54. The business has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $1.83. The firm has a market capitalization of $36.69 million, a price-to-earnings ratio of 8.05 and a beta of 0.14.

Institutional Trading of Asia Pacific Wire & Cable

An institutional investor recently raised its position in Asia Pacific Wire & Cable stock. Susquehanna International Group LLP increased its position in shares of Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) by 57.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,901 shares of the company’s stock after buying an additional 11,676 shares during the quarter. Susquehanna International Group LLP owned about 0.15% of Asia Pacific Wire & Cable worth $66,000 at the end of the most recent reporting period. 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.