Asia Pacific Wire & Cable (NASDAQ:APWC) Stock Price Down 1.2% – Here’s Why

Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC)’s stock price dropped 1.2% during mid-day trading on Wednesday . The company traded as low as $1.5520 and last traded at $1.62. Approximately 75,980 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,484,632 shares. The stock had previously closed at $1.64.

Asia Pacific Wire & Cable Stock Performance

The firm has a 50 day moving average price of $1.51 and a 200-day moving average price of $1.58. The firm has a market cap of $32.99 million, a PE ratio of 5.33 and a beta of 0.62.

Asia Pacific Wire & Cable (NASDAQ:APWC) last released its earnings results on Tuesday, March 31st. The company reported $0.17 earnings per share for the quarter. The firm had revenue of $133.79 million for the quarter. Asia Pacific Wire & Cable had a net margin of 1.27% and a return on equity of 2.18%.

Institutional Investors Weigh In On Asia Pacific Wire & Cable

A hedge fund recently raised its stake in Asia Pacific Wire & Cable stock. Susquehanna International Group LLP raised its holdings in Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) by 57.7% during 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 about 0.15% of Asia Pacific Wire & Cable worth $66,000 as of its most recent SEC filing. 1.00% of the stock is currently owned by hedge funds and other institutional investors.

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.