Stock With Momentum: K-One Technology

This article first appeared in The Edge Financial Daily, on August 14, 2018.
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K-One Technology Bhd (+ve)

TRADING of shares in K-One Technology Bhd (fundamental: 2.25/3, valuation: 0.3/3) triggered our stocks with momentum algorithm yesterday for the fifth time this year.

The stock closed unchanged at 22.5 sen, with 4.77 million shares done, higher than the counter’s 200-day average of 820,605 shares.

The company is involved in the research, design and development of electronic end products and subsystems for the healthcare, medical, Internet of Things, automotive, industrial, communication, computer and consumer electronics industries.

For the first quarter ended March 31, 2018, the group reported a net profit of RM21,000 versus a net loss of RM8.81 million in the previous year thanks to concerted efforts on lowering materials cost and deepening push into higher margin businesses.

Quarterly revenue came in lower by 6% to RM18.79 million from RM19.97 million a year ago.

K-One is currently trading at 1.35 times its net book value.