SAC Capital has downgraded its recommendation on Grand Venture Technology to “hold” with a target price of $1.30.

This comes after the manufacturing company reported revenue of $53.5 million for the 1HFY2021 ended June, almost double that from the corresponding period the year before.

Earnings for the half-year period surged by some 282.7% y-o-y to $8.5 million on better margins.

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