A195870 — HAESUNG DS Co., Ltd. — enters August with a split personality: a 26% single-day spike on July 31 sits awkwardly inside a month that has erased nearly a third of the stock's value.
The price action tells the most interesting story this week. The stock closed at KRW 48,200 on July 31, up 26% on the day — a violent reversal after a brutal July that saw it fall 32% from the prior month. The one-week reading is still negative at -2.6%, which means the day's surge barely offset losses accumulated earlier in the week. Peers had a similarly volatile session: A029460 gained 11.5% on the day while A330860 added 26.5%, suggesting the July 31 move was a broad Korean semiconductor materials re-rating rather than a company-specific catalyst. Yet most peers in the cohort remain down 10-24% on the week, so the one-day bounce has not erased the damage for anyone.
The lending market offers little drama here. Borrow availability is extremely loose — roughly 667% of short interest, meaning more than six shares are available to borrow for every one currently shorted. That reading has actually tightened sharply from above 1,100% just a week ago, a move of -38%, but the absolute level remains well inside the "normal" range and far above the 52-week tightest point of 192%. Cost to borrow has eased to 5.97%, down 32% on the week after running as high as 8.8% in early July. The short score, at 35.1, has nudged higher over the past few days but remains firmly in the lower half of the universe. None of this points to a short-driven catalyst in either direction — availability is simply too loose for squeeze mechanics to apply.
Valuation is where the picture gets genuinely interesting. The stock now trades at a P/E of 6.9x and a P/B of 0.96x — below book value, which is unusual for a semiconductor materials name. The EV/EBITDA multiple has compressed to 4.2x over the past month, falling nearly half a turn in 30 days as the share price dropped faster than earnings estimates. The forward EPS momentum factor scores in the 89th percentile of the universe, reflecting a dramatic upward revision to FY2026 earnings expectations. That combination — deeply discounted multiples against rising forward estimates — is the clearest tension in the stock right now. The analyst consensus price target of KRW 85,150 implies roughly 77% upside to the current price, though there have been no recent target changes to suggest the Street has updated that view for July's selloff.
On ownership, Korea's National Pension Service trimmed its position by 187,807 shares (as of late June), reducing its stake to 5.9% of shares outstanding. The parent company, Haesung Industrial, holds 34% and has not moved. Insider activity has been limited to small external director purchases and one minor director sale in May, all at prices well above current levels — a reminder that the insiders who bought in the KRW 83,000-92,000 range are sitting on significant paper losses at today's price.
Earnings on August 18 are the next hard date to watch — prior prints have produced single-day moves ranging from -5% to +11%, with five-day follow-throughs that have swung as wide as -9% to +6.5%, making the outcome genuinely hard to read from the historical pattern alone.
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