It is a significantly undervalued stock, trading at a...

It is a significantly undervalued stock, trading at a substantial PE discount to its main competitor Sigma. The company is coming through the lowest point in its cycle after some difficult period and its performance should start to improve from now on. API's SP has been marking time in recent days at around 30c mark, while IMO on a comparable basis it should be at the 50c level at present, with more upside to come in the future as performance continues to improve.

The sudden upturn today seems to be triggered by the announcement after market close last Friday that the HY result will be announced on the 19th April. The potential buyers must be realising that the result would probably be reasonable under the circumstances and is likely to come with confirmation that things are progressing well, so the sp may not go down any further and if they wish to ride the upside they need to get set now.