MClean Technologies Bhd (-ve)

MClean Technologies Bhd (fundamental: 0.95/3, valuation: 0.3/3) made it to our Stocks with Momentum list yesterday for the second time this year.

The stock rose 1.5 sen or 6.67% to close at 24 sen yesterday, after a total of 24.5 million shares were crossed, over 11 times its 200-day average trading volume of 2.17 million shares.

On Dec 5, MClean Technologies saw 16 million shares, representing 8.95% of its outstanding shares, traded off-market at 15 sen apiece, or RM2.4 million in total.

The shares were crossed in four blocks, comprising two blocks of six million shares each, one block of 2.5 million shares and one block of 1.5 million shares.

MClean Technologies, a precision cleaning and surface treatment service provider, recorded a net loss of RM2.69 million for the nine months ended Sept 30, 2019, more than double its previous year’s nine-month net loss of RM1.19, as revenue fell 17.8% to RM42.68 million from RM51.94 million.