Bioalpha Holdings Bhd (-ve)
TRADING of the shares in Bioalpha Holdings Bhd (fundamental: 2.25/3, valuation: 1.40/3) triggered our momentum algorithm yesterday for the third time this year.
The stock, up one sen or 6% at 27 sen, saw 11.25 million shares traded, significantly above its 200-day average volume of 1.75 million shares.
It was reported in The Edge Financial Daily on Monday that the herbal-based supplements maker is optimistic about chalking up another record revenue this year, based on demand it has seen in the first half of the year, particularly in the April to June quarter.
In the first quarter ended March 31, 2018, Bioalpha posted a net profit of RM640,000, compared to a net loss of RM1.96 million a year earlier. Revenue grew 44.4% to RM12.46 million from RM8.63 million.
The group’s revenue has been rising annually since its listing on Bursa Malaysia’s ACE Market in 2015.