Trading closed on Thursday with the Junior Market index bouncing 36.88 points to 3,362.16, with investors responding to recent results of some stocks and driving rising stocks to outpace those declining after 60 percent more shares traded, with 74 percent more value than on Wednesday at the close of the Jamaica Stock Exchange Junior Market.
Market activity led to 38 securities trading, similar to Wednesday and ended with 19 rising, 12 declining and seven unchanged. Dolphin Cove and Future Energy Source closed at 52 weeks’ high, with the latter seemingly overpriced at a PE ratio of 23. See the chart below with price quotations and the PE ratio of each stock.
The PE Ratio, a measure used to compute appropriate stock values, averages 12 based on ICInsider.com’s 2021-22 earnings forecast.
Trading ended with 15,060,760 shares changing hands for $57,055,882, up from 9,391,892 units at $32,844,824 on Wednesday. Future Energy Source led trading with 48.7 percent of total volume after exchanging 7.34 million shares, followed by Honey Bun 18.7 percent with 2.81 million units and Caribbean Flavours 13.7 percent, with an exchange of 2.06 million units.
Trading averaged 396,336 units at $1,501,471 from 247,155 at $864,337 on Wednesday, with the month to date averaging 483,100 units at $1,293,883 compared to 489,041 units at $1,279,670 on Wednesday. July trading averaged 163,918 units at $481,755.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and five with lower offers.
At the close, Blue Power slipped 9 cents to $3.20 with 149,027 shares changing hands, CAC 2000 gained 25 cents to finish at $9.50 in switching ownership of 1,012 stock units, Caribbean Cream dropped 28 cents to $5.32 with 500 units traded. Caribbean Flavours lost 5 cents to close at $1.94 with an exchange of 2,062,125 stocks, Dolphin Cove surged $2.50 to finish at a 52 weeks’ high of $12.50 with 2,731 shares passing through the market, Elite Diagnostic rose 9 cents to $3.09 with 205,000 units changing hands. Express Catering increased 6 cents to $6 with a transfer of 44,149 stock units, Fosrich gained 8 cents to close at $8.10 with 31,795 stocks traded, Future Energy Source advanced 15 cents to a record close of $3, with a commanding 7,337,262 shares passing through the market. Honey Bun shed $1.39 to end at $8.10 with an exchange of 2,809,791 units, Iron Rock Insurance jumped 87 cents to $3.88 with 20,000 stocks changing hands, Jamaican Teas dropped 14 cents to $3.41, in switching ownership of 176,620 stock units. Jetcon Corporation declined 16 cents to 99 cents with 13,000 shares traded, Knutsford Express lost 10 cents to end at $8 with an exchange of 6,166 stocks, Lasco Distributors fell 20 cents to $3.80 with a transfer of 347,973 units. Lasco Manufacturing rallied 31 cents to $5.18 with 12,162 stock units changing hands, Mailpac Group rose 7 cents to $3.67 with 398,043 shares passing through the market, Main Event climbed 45 cents to $4.75 with a transfer of 750 stocks. Paramount Trading gained 22 cents to close at $1.17 with investors switching ownership of 1,000 stock units, SSL Venture rose 6 cents to 80 cents with 17,544 units traded and Stationery and Office Supplies jumped $1.05 to $7.45 with 76,200 shares crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.