The share price of Hana Microelectronics Public Company Limited (SET: HANA) plunged THB3.00 or 5.88% to THB48.00 per share, the lowest in the morning session on March 2, 2022.
HANA is -42% in 2022 as of the closing price at THB51.00 per share yesterday. It came out of a record high of THB95.50 in early December 2021. The Relative Strength Index (14) indicated that the securities are on an oversold territory at 23.45%.
Capital Nomura Securities (CNS) has a negative view on the latest analyst meeting as the management said that the net loss of SiC segment in Korea this year could be approximately 580-620 million baht, compared to an estimated 100 million baht net loss earlier.
According to the management, the business in Korea will reach a breakeven in 2025, resulting in a revised down net profit forecast by 21% and a reduction of target price to THB47.00 per share, followed by a Reduce recommendation.
Country Group Securities (CGS) stated that the analyst meeting came out with a negative tone. The company’s Korean SiC segment will continue to incur costs throughout 2022. However, the 45% tumble in share price since Nov’21 factored in the negative 2022 outlook and makes valuations cheap. Maintain BUY with new TP of Bt61.25 (18% down from previous TP) based on 21.3xPE’22 (+1SD 10- yr trading average).
