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

Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 78,585 shares, a drop of 33.0% from the June 30th total of 117,271 shares. Based on an average daily volume of 31,537 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.4% of the company’s shares are sold short.

Asia Pacific Wire & Cable Stock Performance

NASDAQ:APWC opened at $1.48 on Friday. The firm’s fifty day moving average is $1.53 and its 200-day moving average is $1.53. Asia Pacific Wire & Cable has a 52 week low of $1.26 and a 52 week high of $2.34. The firm has a market cap of $30.51 million, a P/E ratio of 4.93 and a beta of 0.62.

Asia Pacific Wire & Cable (NASDAQ:APWC) last posted its quarterly earnings data 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 during the quarter.

Institutional Trading of Asia Pacific Wire & Cable

A hedge fund recently raised its stake in Asia Pacific Wire & Cable stock. Susquehanna International Group LLP lifted its holdings in Asia Pacific Wire & Cable Corporation Limited (NASDAQ:APWC) by 57.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. 1.00% of the stock is owned by hedge funds and other institutional investors.

About Asia Pacific Wire & Cable

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.