Stock With Momentum: Elsoft Research

This article first appeared in The Edge Financial Daily, on July 31, 2017.
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Elsoft Research Bhd (+ve)

SHARES in Elsoft Research Bhd (fundamental: 1.95/3, valuation: 2.1/3) triggered our momentum algorithm last Friday for the sixth time this year.

The counter closed up 21 sen or 8.11% at RM2.80 last Friday, after 1.87 million shares were traded, compared to its 200-day average volume of 222,824 shares.

The group is an MSC-status company that provides ATE solutions to the semiconductor, optoelectronic and automation industries.

Elsoft Research was recently featured on the annual “Best Under A Billion” list by Forbes Asia which highlights 200 leading stock-traded companies in the Asia-Pacific region, with annual revenue between US$5 million (RM21.4 million) and US$1 billion.

At the current share price, Elsoft Research is trading at 7.18 times its book value.