Amtek Engineering (M1P.SG) is +5.6% at $1.03, back above $1.00 for the first time in 5 sessions.

Interest has been picking up ever since the stock reached a low of $0.945 last week, although it’s still trading well below its $1.30 IPO price, which investors had deemed expensive in terms of valuation, especially for a company returning to the market after being delisted in 2007.

Recent regular purchases by Amtek’s underwriter Morgan Stanley, as part of the month-long IPO stabilisation action, has helped to limit the stock’s downside, but how it will fare in the short-term could hinge on the precision components manufacturer’s fiscal 1Q11 results on Dec 15.

For now, orderbook quotes suggest it’s not likely to clear the $1.08 peak set during its Dec 1 debut.