STA Jumps 24% to Bt43 in Anticipation Importing-Growing Hemp, Bloomberg Con. TP at Bt49.4

STA Jumps 24% to Bt43 in Anticipation Importing-Growing Hemp, Bloomberg Cononsensus Gave a Target Price at Bt49.4

The share price of Sri Trang Agro-Industry Public Company Limited (STA) rose ฿8.50/share or 24.64% to traded at ฿43.00/share with a trading value of 6,435 million baht as of 12:01 on Thursday.

 

The sudden rise in share price might be due to the report of the company to request for an import certification of hemp seeds, as well as a certification to grow hemp.

Meanwhile, the company reported a turnaround in 2020 earnings to record 9,532 million baht, recovered from a net loss of 148 million baht in 2019 due to higher revenue and sales volume as the COVID-19 pandemic led to a surge in demand globally.

 

In addition, the Board of Directors approved a dividend payment of ฿1.75/share to be paid on April 29, 2021. The ex-dividend date will be on April 12, 2021.

 

Bloomberg Consensus gave a target price of STA at ฿49.40/share with Kasikorn Securities giving the highest target price at ฿55.00/share.

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