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Demilo

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06-27

$Genting Sing(G13.SI)$ Staying strong

08-02

$Seatrium Ltd(5E2.SI)$ buy buy and keep ship demand is high now.

05-30

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09-04

Waiting them to be profitable and No1 company.

Seatrium shares surge on re-rating, short covering and share buybacks

06-18

$Seatrium Ltd(5E2.SI)$ heong but worthy?

05-30

Potential stock to invest in.

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At the midday break, it was up 1.3 per cent at $1.57 with a heavy 27.5 million shares changing hands.The stock closed at $1.45 on Aug 29, before climbing 2 per cent on Aug 30 and 4.7 per cent on Sept 2. Based on its midday trading price on Sept 3, it has risen more than 8 per cent in just three trading sessions.Several analysts and brokers attributed the sharp pickup to short covering as traders who had shorted the stock bought back the shares to close out their positions. The counter saw a sharp selldown just after it announced its  first half year results on Aug 2.H1 results on Aug 2 will show if Seatrium’s fortunes are turning around","content":"<div>\n<p>SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged ...</p>\n\n<a href=\"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Seatrium shares surge on re-rating, short covering and share buybacks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeatrium shares surge on re-rating, short covering and share buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-03 12:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged ...</p>\n\n<a href=\"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"5E2.SI":"海庭"},"source_url":"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2464431078","content_text":"SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged to an intraday high of $1.61 around 10am on Sept 3. At the midday break, it was up 1.3 per cent at $1.57 with a heavy 27.5 million shares changing hands.\nThe stock closed at $1.45 on Aug 29, before climbing 2 per cent on Aug 30 and 4.7 per cent on Sept 2. Based on its midday trading price on Sept 3, it has risen more than 8 per cent in just three trading sessions.\n\n\n\nSeveral analysts and brokers attributed the sharp pickup to short covering as traders who had shorted the stock bought back the shares to close out their positions. The counter saw a sharp selldown just after it announced its  first half year results on Aug 2.\nThe uptick also comes as the company started its share buyback programme over the past few days. Earlier this year, the company obtained shareholder approval to buy back $100 million worth of shares. The company last week bought back some $2 million worth of shares at an average price of $1.4833.\nThilan Wickramesinghe, research head at Maybank Securities, also reckons there has been some institutional funds slowly getting into the stock, which some market experts reckon is over 40 per cent undervalued based on discounted cash flows, and is still trading over 45 per cent below estimated fair value of $2.88.\n\n\n\nUOB Kay Hian on Sept 3 added Seatrium to its “Alpha Picks” list of stocks which will likely outperform the market this month. Noting strong order books and steady project completions, the investment house maintained its “buy” call on the stock, with a 6-12 month target price at $2.31 based on a price-book multiple of 1.15 times.\n\nThe recent perk up its stock price also comes following analysts’ re-rating of the company after it posted a turnaround in its performance numbers.\nAfter swimming in red ink for six years, Seatrium returned to profitability, fuelled by a tailwind of new orders on the back of buoyant energy prices. \nThe group posted underlying net profit of $115 million for the half year to end-June. This was a $379 million turnaround from losses in the year-ago period. Net profit attributable to shareholders came in at $36 million, reversing a loss of $264 million a year earlier. Earnings per share stood at 1.05 cents, versus a loss of 9.4 cents.\nThe results came on the back of revenue growth of 39 per cent to $4 billion, from $2.89 billion in the year-ago period.\nSeatrium also sits on record order book now surpasssing $26 billion. It has also been cleaning house by clearing up legacy issues left behind by a 10-year slump in the oil market, and is seeing a significant strengthening of its balance sheet.\n\n\n\n\n\nMore On This Topic\n\n \n\nSeatrium back in black after six years with $36 million first-half net profit\n\n\n\n \n\nH1 results on Aug 2 will show if Seatrium’s fortunes are turning around","news_type":1},"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":334055794405464,"gmtCreate":1722589887548,"gmtModify":1722589891281,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> buy buy and keep ship demand is high now.&nbsp;","listText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> buy buy and keep ship demand is high now.&nbsp;","text":"$Seatrium Ltd(5E2.SI)$ buy buy and keep ship demand is high now.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/334055794405464","isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321346919911440,"gmtCreate":1719484196409,"gmtModify":1719485588390,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/G13.SI\">$Genting Sing(G13.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Staying strong&nbsp;","listText":"<a href=\"https://ttm.financial/S/G13.SI\">$Genting Sing(G13.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Staying strong&nbsp;","text":"$Genting Sing(G13.SI)$ Staying strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321346919911440","isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":318154884763768,"gmtCreate":1718701834448,"gmtModify":1718701950091,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> heong but worthy?","listText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> heong but worthy?","text":"$Seatrium Ltd(5E2.SI)$ heong but worthy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/318154884763768","isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311532098719840,"gmtCreate":1717083492630,"gmtModify":1717084096827,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> Best platform with low fees and unique information provision.","listText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> Best platform with low fees and unique information provision.","text":"$Tiger Brokers(TIGR)$ Best platform with low fees and unique information provision.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/311532098719840","isVote":1,"tweetType":1,"viewCount":59,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311512290308280,"gmtCreate":1717078574259,"gmtModify":1717078612924,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"Potential stock to invest in.&nbsp;","listText":"Potential stock to invest in.&nbsp;","text":"Potential stock to invest in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/311512290308280","isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":321346919911440,"gmtCreate":1719484196409,"gmtModify":1719485588390,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/G13.SI\">$Genting Sing(G13.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Staying strong&nbsp;","listText":"<a href=\"https://ttm.financial/S/G13.SI\">$Genting Sing(G13.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Staying strong&nbsp;","text":"$Genting Sing(G13.SI)$ Staying strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321346919911440","isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":334055794405464,"gmtCreate":1722589887548,"gmtModify":1722589891281,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> buy buy and keep ship demand is high now.&nbsp;","listText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> buy buy and keep ship demand is high now.&nbsp;","text":"$Seatrium Ltd(5E2.SI)$ buy buy and keep ship demand is high now.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/334055794405464","isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311532098719840,"gmtCreate":1717083492630,"gmtModify":1717084096827,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> Best platform with low fees and unique information provision.","listText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a> Best platform with low fees and unique information provision.","text":"$Tiger Brokers(TIGR)$ Best platform with low fees and unique information provision.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/311532098719840","isVote":1,"tweetType":1,"viewCount":59,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345766484476016,"gmtCreate":1725442414977,"gmtModify":1725442418540,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"Waiting them to be profitable and No1 company.","listText":"Waiting them to be profitable and No1 company.","text":"Waiting them to be profitable and No1 company.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/345766484476016","repostId":"2464431078","repostType":2,"repost":{"id":"2464431078","pubTimestamp":1725338580,"share":"https://ttm.financial/m/news/2464431078?lang=&edition=fundamental","pubTime":"2024-09-03 12:43","market":"sg","language":"en","title":"Seatrium shares surge on re-rating, short covering and share buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=2464431078","media":"The Straits Times","summary":"SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.The counter surged to an intraday high of $1.61 around 10am on Sept 3. At the midday break, it was up 1.3 per cent at $1.57 with a heavy 27.5 million shares changing hands.The stock closed at $1.45 on Aug 29, before climbing 2 per cent on Aug 30 and 4.7 per cent on Sept 2. Based on its midday trading price on Sept 3, it has risen more than 8 per cent in just three trading sessions.Several analysts and brokers attributed the sharp pickup to short covering as traders who had shorted the stock bought back the shares to close out their positions. The counter saw a sharp selldown just after it announced its  first half year results on Aug 2.H1 results on Aug 2 will show if Seatrium’s fortunes are turning around","content":"<div>\n<p>SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged ...</p>\n\n<a href=\"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Seatrium shares surge on re-rating, short covering and share buybacks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeatrium shares surge on re-rating, short covering and share buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-03 12:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged ...</p>\n\n<a href=\"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"5E2.SI":"海庭"},"source_url":"https://www.straitstimes.com/business/seatrium-shares-surge-on-re-rating-short-covering-and-share-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2464431078","content_text":"SINGAPORE - Shares of offshore marine engineering company Seatrium have risen sharply in recent days from a combination of short covering, institutional buying and share buybacks.\nThe counter surged to an intraday high of $1.61 around 10am on Sept 3. At the midday break, it was up 1.3 per cent at $1.57 with a heavy 27.5 million shares changing hands.\nThe stock closed at $1.45 on Aug 29, before climbing 2 per cent on Aug 30 and 4.7 per cent on Sept 2. Based on its midday trading price on Sept 3, it has risen more than 8 per cent in just three trading sessions.\n\n\n\nSeveral analysts and brokers attributed the sharp pickup to short covering as traders who had shorted the stock bought back the shares to close out their positions. The counter saw a sharp selldown just after it announced its  first half year results on Aug 2.\nThe uptick also comes as the company started its share buyback programme over the past few days. Earlier this year, the company obtained shareholder approval to buy back $100 million worth of shares. The company last week bought back some $2 million worth of shares at an average price of $1.4833.\nThilan Wickramesinghe, research head at Maybank Securities, also reckons there has been some institutional funds slowly getting into the stock, which some market experts reckon is over 40 per cent undervalued based on discounted cash flows, and is still trading over 45 per cent below estimated fair value of $2.88.\n\n\n\nUOB Kay Hian on Sept 3 added Seatrium to its “Alpha Picks” list of stocks which will likely outperform the market this month. Noting strong order books and steady project completions, the investment house maintained its “buy” call on the stock, with a 6-12 month target price at $2.31 based on a price-book multiple of 1.15 times.\n\nThe recent perk up its stock price also comes following analysts’ re-rating of the company after it posted a turnaround in its performance numbers.\nAfter swimming in red ink for six years, Seatrium returned to profitability, fuelled by a tailwind of new orders on the back of buoyant energy prices. \nThe group posted underlying net profit of $115 million for the half year to end-June. This was a $379 million turnaround from losses in the year-ago period. Net profit attributable to shareholders came in at $36 million, reversing a loss of $264 million a year earlier. Earnings per share stood at 1.05 cents, versus a loss of 9.4 cents.\nThe results came on the back of revenue growth of 39 per cent to $4 billion, from $2.89 billion in the year-ago period.\nSeatrium also sits on record order book now surpasssing $26 billion. It has also been cleaning house by clearing up legacy issues left behind by a 10-year slump in the oil market, and is seeing a significant strengthening of its balance sheet.\n\n\n\n\n\nMore On This Topic\n\n \n\nSeatrium back in black after six years with $36 million first-half net profit\n\n\n\n \n\nH1 results on Aug 2 will show if Seatrium’s fortunes are turning around","news_type":1},"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":318154884763768,"gmtCreate":1718701834448,"gmtModify":1718701950091,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> heong but worthy?","listText":"<a href=\"https://ttm.financial/S/5E2.SI\">$Seatrium Ltd(5E2.SI)$ </a> heong but worthy?","text":"$Seatrium Ltd(5E2.SI)$ heong but worthy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/318154884763768","isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311512290308280,"gmtCreate":1717078574259,"gmtModify":1717078612924,"author":{"id":"3568512771808572","authorId":"3568512771808572","authorIdStr":"3568512771808572","name":"Demilo","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568512771808572"},"themes":[],"htmlText":"Potential stock to invest in.&nbsp;","listText":"Potential stock to invest in.&nbsp;","text":"Potential stock to invest in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/311512290308280","isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}