The stock price shot up 5.5 cents, or 15.7%, to 40.5 cents, a long way up from 29.5 cents at the start of this month.
Trek's market cap now stands at $120 million, up from $88 million just a week ago.
Could it be that the market is awakening to the potential of Trek’s revolutionary product, the FluCard?
The card, which will be showcased at the international photography fair Fotokina in Cologne, Germany, Sept 21-26, enables photographs to be transmitted wirelessly from a digital camera to another.
Trek has tied up with a consortium of Japanese camera makers led by Toshiba Corporation to incorporate the FluCard into new digital cameras.
On Aug 16, Toshiba bought 6.3 million shares of Trek via married deals, boosting its stake from 15.71% to 17.84%.
Click: TERENCE WONG: 'What I would buy with $1 m'
Terence has also spoken about this stock at the recent InvestFair 2010 at Marina Bay Sands.
His colleague, analyst James Lim, who is probably the only one covering Trek at the moment, initiated coverage of the company in April this year and issued an update on Aug 15.
He wrote: “We continue to expect high profit contributions from Trek’s FluCard venture should it take off in 4Q10 as planned, accounting for 78% and 92% for FY10 and FY11 earnings respectively.
FluCard venture would be the wild card for Trek.”
At the point of his report, Trek traded at 30 cents. James said: “Presently valued at 4.3x FY11 P/E, we opine that Trek should trade up to 5.6x FY11 P/E which in turn signifies a 30% discount to the industry average of 8.0x FY11 P/E.
"Our target price is thus unchanged at S$0.39. Resultantly, we note that this translates to 1.2x FY11 P/B, a discount as compared to the company’s 5-yr historical P/B average of 1.3x.”
For Trek's press release on its participation at Fotokina, click here.
