On Wednesday at 10:18 AM (Bangkok time), the share price of Delta Electronics (Thailand) Public Company Limited (SET: DELTA) surged by 3.22% or THB 2.50 to THB 80.25, with a trading value of THB 926.25 million.
After reaching a record high of THB 156.50 per share on January 10, 2025, DELTA recently experienced a continued downward trajectory, as investors expressed worries about the potential adjustment in the market cap weight on the SET50/SET100 Index, capped at 10%.
Moreover, the share price was also pressured by the re-evaluation from analysts, giving the electronic component giant a ‘SELL’ recommendation and revising the appropriate price to THB 71.50 per share. This came after DELTA announced a sharply contracting net profit in the fourth quarter of 2024, down 54% year-on-year and 63% quarter-on-quarter, reaching 2,155 million baht, significantly below expectations. This decline was attributed to increased cost of goods sold, rising expenses, and higher taxes, leading to a 20% downgrade in the company’s 2025 earnings forecast by analysts.
