Stock With Momentum: Ni Hsin Resources

This article first appeared in The Edge Financial Daily, on September 19, 2018.
-A +A

Ni Hsin Resources Bhd (+ve)
Trading of shares in Ni Hsin Resources Bhd (fundamental: 1.8, valuation: 0.9) triggered our momentum algorithm yesterday for the first time this year. The stock closed up 1.5 sen or 7.69% at 21 sen.

The stock saw 7.06 million shares traded, above its 200-day average volume of 1.2 million shares.

Ni Hsin posted a net loss of RM2.82 million in its second quarter ended June 30, 2018 (2QFY18) versus a net profit of RM426,000 last year, as revenue fell 27.18% to RM7.37 million from RM10.12 million on lower sales of cookware, convex mirrors, and clad metal .

For the first half of the FY18, Ni Hsin reported a net loss of RM2.97 million compared to a net profit of RM509,000 a year ago, as revenue fell 27.63% to RM14.86 million from RM20.53 million.

Ni Hsin makes pressure cookers, woks, pots, saucepans, stainless steel convex mirrors and household water filtration systems.