Stock With Momentum: Adventa Bhd

Adventa Bhd (-ve)
TRADING of shares in Adventa Bhd (fundamental: 1.75/3, valuation: 0.3/3) triggered our proprietary momentum algorithm yesterday for the second time in the past one year.

The last time it triggered the algorithm was in July 2019, the month it obtained shareholders’ approval to sell its entire interest in its industrial and commercial sterilisation business unit, Electron Beam Sdn Bhd.

The stock rose 1.5 sen or 2.17% to close at 70.5 sen yesterday, with a market capitalisation of RM107.71 million. A total of 346,600 million shares were crossed, sharply higher compared with its 200-day average trading volume of 38,485 shares.

Adventa also said the healthcare sector has improved with higher sales and better market penetration.

This improvement is expected to continue barring unforeseen events in the market, and higher government healthcare spending helped boost hospital supplies’ revenue.