Stock With Momentum: Ewein Bhd

This article first appeared in The Edge Financial Daily, on July 18, 2018.
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Ewein Bhd (+ve)
TRADING in the shares of Ewein Bhd (fundamental: 1.3/3, valuation: 1.4/3) triggered our proprietary momentum algorithm yesterday for the sixth time this year.

The stock closed three sen or 3.9% higher at 80 sen, with 19.97 million shares done, exceeding its 200-day average volume of 2.4 million shares.

The property developer saw its net profit quadruple to RM12.05 million in the first quarter ended March 31, 2018 from RM2.53 million a year ago, mainly on higher sales of properties and faster construction progress.

Quarterly more than doubled year-on-year to RM56.46 million from RM22.76 million.

At current share price, Ewein is trading at 1.15 times its book value with a market capitalisation of RM241.27 million.