With A 40% Price Drop For hyungji Elite Co., Ltd. (KRX:093240) You’ll Still Get What You Pay For
hyungji Elite Co., Ltd. (KRX:093240) shares have had a horrible month, losing 40% after a relatively good period beforehand. Looking at the bigger picture, even after this poor month the stock is up 49% in the last year.
In spite of the heavy fall in price, hyungji Elite may still be sending very bearish signals at the moment with a price-to-earnings (or “P/E”) ratio of 24.4x, since almost half of all companies in Korea have P/E ratios under 14x and even P/E’s lower than 7x are not unusual. However, the P/E might be quite high for a reason and it requires further investigation to determine if it’s justified.
