By Asia Analytica / The Edge Financial Daily | July 12, 2016 : 10:20 AM MYT
This article first appeared in The Edge Financial Daily, on July 12, 2016.
Eonmetall Group Bhd (+ve)
SHARES in Eonmetall Group Bhd (fundamental: 1/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the first time this month as the stock price rose 5.5 sen or 7.33% to close at 80.5 sen, with 8.84 million shares traded, a big jump from its 200-day average volume of 730,007 shares.
Bursa Malaysia on June 9 issued an unusual market activity query on the recent sharp rise in its share price. But in its reply to Bursa, Eonmetall said it was unaware of any reason that could have caused the recent share price rally.
Year to date, the counter has risen 3.22 times.
For its first quarter ended March 31, 2016 (1QFY16), Eonmetall returned to the black with a net profit of RM11.85 million, from a net loss of RM155,000 a year ago, on higher revenue from its machinery and equipment segment and lower production costs.
Revenue more than doubled to RM32.9 million from RM15.38 million.
At its current price, Eonmetall is trading at a trailing price-earnings ratio of 7.23 times and is 0.85 times its book value.
EMETALL (7217) - Stock With Momentum: Eonmetall Group
http://www.theedgemarkets.com/my/article/stock-momentum-eonmetall-group-1
