BATEK Investment Logistics shares experienced strong selling pressure during the trading session.
This is after the company announced that one of its subsidiaries has received an execution order from the Administrative Execution Court.
The decision is based on a ruling issued by the Municipality of Jazan Region. The ruling stipulates the payment of an amount of forty-two million riyals.
Investors reacted quickly to the news. The stock fell to two riyals and three halalas, its lowest level since May 17.
The stock has also witnessed exceptional activity. Trading volumes rose to about fifty-two times the average daily trading during the last twenty sessions.
The performance of BATIC stock during the recent period
Batek stock continued to record notable losses over the past days.
It has fallen by about 5 percent in the last five sessions. In addition, the stock has fallen by five to eight percent in a month.
However, the stock still holds gains of nearly eight percent since the start of the year.
On a year-over-year basis, the stock has fallen about thirteen percent over the last fifty-two weeks.
Compared to the decline of the Saudi market index by about four or five percent during the same period.
Financial Indicators and Shareholder Structure
The stock currently trades at a book value multiplier of about two comma ninety-seven times.
The P/E is about forty-nine times, based on the profits of the last twelve months.
The company’s last cash dividend was in 2017, when it amounted to twenty-five halalas per share. Since then, the company has not announced any cash dividends.
The main shareholders include Princess Nouf bint Khalid bin Abdulaziz Al Saud with a six-point stake of eighty-nine percent.
In addition, Turki Ibrahim Mansour Al-Rajhi holds a percentage of ten comma eight percent. Meanwhile, free float shares represent the rest of the capital.
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