Stock With Momentum: Vsolar Group

This article first appeared in The Edge Financial Daily, on July 23, 2019.
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Vsolar Group Bhd (-ve)

TRADING of shares in Vsolar Group Bhd (fundamental: 1.35/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the third time this month, closed up 3.5 sen or 17.95% at 23 sen.

A total of 42.03 million shares were done, versus its 200-day average trading volume of 9.39 million shares.

The company is involved in the marketing and distribution of software solutions, media publishing and solar renewable energy.

The group reported a higher net loss of RM648,000 for the third financial quarter ended March 31, 2019, versus RM601,000 a year ago, which it attributed to lower gross margins for its renewable energy segment. Revenue declined 55.35% to RM142,000 from RM318,000 on lower sales.

For the cumulative nine months ended March 31, 2019, it recorded a wider net loss of RM1.22 million versus RM1.21 million a year ago, despite revenue growing 22.17% to RM1.28 million from RM1.05 million.