Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on March 13, 2017.

 

Ancom Bhd (-ve)

SHARES in Ancom Bhd (fundamental: 2.2/3, valuation: 0.8/3) triggered our momentum algorithm last Friday for the first time this year.

The stock closed up one sen or 2.33% at 44 sen last Friday, with a volume of 1.39 million shares traded, exceeding the counter’s 200-day average volume of 156,089.5 shares. Its market capitalisation stood at RM96.34 million.

Recent filings with the local bourse saw Ancom buy back some 15,000 of its own shares between Feb 10 and 20 at a minimum price of 37 sen and a maximum price of 39 sen each.

Ancom returned to the black in the second financial quarter ended Nov 30, 2016 and expects a satisfactory performance for the remaining two financial quarters.

At the current share price, Ancom is trading at 0.31 times its book value.

 

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