As at June 30, 2018, the group had total assets of RM18.22bil.
KUALA LUMPUR: Bumi Armada
's share price skidded to an all-time low of 19.5 sen on Thursday on continued selling pressure but its relative strength index shows the shares were oversold.
At 3.14pm, it was down 5.5 sen to 21 sen There were 39.03 million shares done.
The FBM KLCI advanced 11.26 points or 0.67% to 1,697.81. Turnover was 1.36 billion shares valued at RM1.37bil. There wre 311 gainers, 528 losers and 303 counters unchanged.
Bloomberg said trading volume was more than double the 20-day average for this time of day.
“The relative strength index on the stock was below 30, indicating it may be oversold,” it said, when the share was earlier at 24 sen.
Bloomberg reported that in the past year, the stock had a similar or greater loss once at the close.
At 24 sen, the shares are at a 44% discount to the analysts' consensus target price. The stock traded at an average 21% discount over the past year, Bloomberg reported.
KAF Seagroatt & Campbell analyst Joe Vuei Wong downgraded the recommendation on Bumi Armada to hold and assigned a target price of 35 sen on Nov. 26.
Public Investment Bank Berhad analyst Nurzulaikha Azali downgraded the stock to neutral and assigned a target price of 35 sen on the same day.
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