Stock With Momentum: Nationwide Express Holdings

This article first appeared in The Edge Financial Daily, on July 20, 2017.
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Nationwide Express Holdings Bhd (+ve)

SHARES in Nationwide Express Holdings Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our stocks with momentum algorithm yesterday for the third time this year. The stock closed up 5.13% or four sen higher at 82 sen, with 1.72 million shares traded versus the counter’s 200-day average of 234,823 shares.

The company is a courier service provider. It also offers freight forwarding services.

For its fourth financial quarter ended March 31, 2017 (4QFY17), the company saw net loss widen to RM6.3 million from RM3.92 million a year ago, mainly due to lower business volume of the courier segment. Quarterly revenue, however, rose to RM23.58 million from RM21.06 million in 4QFY16.

At the current share price, Nationwide Express is trading at 0.01 times its book value.