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.