Asia Pacific Wire & Cable (NASDAQ:APWC) Shares Cross Below Fifty Day Moving Average – Here’s Why

Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.53 and traded as low as $1.44. Asia Pacific Wire & Cable shares last traded at $1.48, with a volume of 3,838 shares changing hands.

Asia Pacific Wire & Cable Stock Up 1.0%

The company has a market cap of $30.51 million, a PE ratio of 4.93 and a beta of 0.62. The stock’s 50 day simple moving average is $1.53 and its two-hundred day simple moving average is $1.53.

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Asia Pacific Wire & Cable stock. Susquehanna International Group LLP raised its position in shares of 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. The firm owned 31,901 shares of the company’s stock after acquiring an additional 11,676 shares during the period. Susquehanna International Group LLP owned approximately 0.15% of Asia Pacific Wire & Cable worth $66,000 at the end of the most recent reporting period. 1.00% of the stock is owned by institutional investors and hedge funds.

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.