Lack of transactions, these are selected stocks in the fisheries sector

ILLUSTRATION. Fishery issuers’ stocks are not very attractive to market players.

Reporter: Ika Puspitasari | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Market players are not very interested in fishery issuers’ shares, this is reflected in the low share buying and selling activity compared to stocks from other sectors. The shares of a company engaged in fish farming and processing, namely PT Central Proteina Prima Tbk (CPRO) is still asleep at the price level of Rp 50 per share.

Furthermore, shares of PT Inti Agri Resources Tbk (IIKP) also stagnant at IDR 50 and shares of PT Dharma Samudera Fishing Industries Tbk (DSFI) has been stationed in the past month at a price of Rp.64.

The share price that recently took the floor on the Indonesia Stock Exchange is that the company is engaged in the distribution processing business of crab fishery and frozen seafood, PT Morenzo Abadi Perkasa Tbk (ENZO) is also at IDR 50.

Meanwhile, shares of PT Era Mandiri Cemerlang Tbk (FISH) moved up 1.18% to the price of Rp 172 on Tuesday’s trading (3/11). FISH trading volume was recorded at 6.50 million shares. The shares of a company engaged in the processing and distribution of seafood products PT Prima Cakrawala Abadi Tbk (PCAR) today shot up 25% to the price of Rp 290 per share.

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CSA Research Institute Senior Analyst Reza Priyambada said, most of the stocks in the fisheries sector are not attractive when viewed from the movement of their shares. According to Reza, the prospects for this sector will depend on the demand for processed products of each company.

“What we see is how big demand for these products. “With the assumption that the increase in consumption of processed marine products can increase, fisheries issuers can get the opportunity,” Reza told Kontan.co.id, Tuesday (3/11).

From the range of those stocks, Reza evaluates PCAR shares are still quite attractive when viewed from the movement of its shares. Basically DSFI is still pretty good.

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If you take a peek at the financial statements in 2018, Dharma Samudera Fishing Industries recorded an increase in net profit of 28% to IDR 8.64 billion. Meanwhile last year DSFI’s profit slightly decreased 2.31% to Rp 8.44 billion. Now, in the midst of the Covid-19 pandemic, the performance of this issuer has declined again.

In the first half of this year, Dharma Samudera Fishing earned Rp. 163.37 billion or decreased from Rp. 303.44 billion in the same period 2019. DSFI suffered a loss of Rp. 8.07 billion, whereas in the first half of last year it still recorded a profit of up to Rp. 7.29 billion.

Reza added that developments related to public consumption, domestic fishery export conditions and foreign export policies will be a catalyst for stocks in the fisheries sector. For now, he continued, investors can trading short term PCAR and DSFI.

Also Read: KKP, the value of the opportunity for processed fisheries business is still wide open