Stock With Momentum: Hexza Corp

TheEdge Tue, Feb 18, 2020 11:12am - 4 years View Original


Hexza Corp Bhd (-ve)

TRADING of shares in Hexza Corp Bhd (fundamental: 1.3/3, valuation: 2.2/3) triggered our momentum algorithm yesterday for the first time since Oct 17 last year.

The stock closed 4.35% or 3.5 sen higher at 84 sen, after 1.12 million shares were traded, over 10 times its 200-day average trading volume of 107,487 shares.

For the first quarter ended Sept 30, 2019, the manufacturer of synthetic resins saw its net profit grow 13.28% to RM2.4 million from RM2.12 million for the corresponding quarter a year prior, despite a drop in revenue, thanks to a stronger margin for its resin business and lower production cost for its ethanol segment.

Quarterly revenue, which declined 15.05% to RM24.17 million from RM28.45 million, was dragged by a lower contribution from its resin business due to lower average selling prices and lower sales volume.

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