KUALA LUMPUR (June 3): Aurelius Technologies Bhd (KL:ATECH) fell on Wednesday and analysts cut their estimates after the electronic manufacturing services firm missed earnings forecasts.

Maybank Investment Bank, one of only two research houses covering Aurelius, blamed the ringgit strength in a seasonally weak quarter with weak order loadings. However, the house kept its 'buy' recommendation as a resilient orderbook suggests stable demand despite currency headwinds.

“We continue to favour ATECH for its trade diversion exposure, niche global customer base, and stable growth outlook,” the house said as it slashed target price to RM1.14.

Shares of Kedah-based Aurelius fell as much as 5.5 sen or nearly 8% to 73.5 sen. Trading volume was also decent with nearly two million shares changing hands as of 10.45am. Market capitalisation was RM956 million based on the last price.

While off lows, the stock is still down about 7% year-to-date as the ringgit appreciated and cut into Aurelius’ US dollar revenue, as well as its margins. Further, the prolonged Iran war has strained the industry’s supply chain.

Apex Securities also flagged persistent component shortages, sustained margin pressure from operational cost headwinds, and a slower automotive ramp on customer-side supply issues, in lowering its target price for Aurelius to 87 sen from RM1.00.

However, the research house is maintaining its 'buy' call on Aurelius, noting that the company’s current share price likely reflected headwinds from cloudy near-term earnings visibility.

Further, Aurelius also ended the first quarter with a stronger balance sheet and debt-free, despite a 43% decline in bottomline, Apex Securities said.

Net profit for the first three months ended March 31, 2026 (1QFY2026) fell to RM9.2 million from RM16.1 million in the same quarter a year earlier. Revenue, meanwhile, was down 12% year-on-year to RM130.42 million.