Short Interest in Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) Decreases By 42.3%

Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 37,878 shares, a decrease of 42.3% from the August 15th total of 65,655 shares. Based on an average daily volume of 13,906 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.2% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Asia Pacific Wire & Cable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Asia Pacific Wire & Cable has an average rating of “Sell”.

Asia Pacific Wire & Cable Price Performance

Shares of Asia Pacific Wire & Cable stock opened at $1.36 on Thursday. The firm has a market cap of $28.04 million, a price-to-earnings ratio of 4.86 and a beta of 0.63. Asia Pacific Wire & Cable has a 52-week low of $1.26 and a 52-week high of $2.34. The company’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.48.

Asia Pacific Wire & Cable (NASDAQ:APWC) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter. Asia Pacific Wire & Cable had a net margin of 1.28% and a return on equity of 2.16%. The firm had revenue of $136.65 million during the quarter.

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.