Transjamaican hits 52 weeks’ high

Transjamaican Highway dominated trading on the Jamaica Stock Exchange US dollar market on Thursday and closed at a 52 weeks’ high after accounting for 13.148 million shares of the 13,382,341 shares that were traded in the market for US$179,206 up from 282,987 units at US$21,164 on Wednesday, as the overall volume of stocks changing hands, surged 4,629 percent with the value climbing 747 percent over Wednesday’s trades.
The market closed with the trading of six securities, compared to five on Wednesday with two rising and four declining as the US Denominated Equities Index rallied 0.92 points to close at 229.36.
Trading averaged 2,230,390 units at US$29,868, up from 56,597 shares at US$4,233 on Wednesday, with the month to date averaging 336,026 shares at US$6,790 compared with 65,402 units at US$3,493 on the previous day. Trading in March ended with an average of 172,829 units for US$12,793.
The PE Ratio, a measure used in computing appropriate stock values, averages 10.2. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, First Rock Real Estate USD share shed 0.47 of a cent to close at 6 US cents and closed with an exchange of 6,262 shares, MPC Caribbean Clean Energy dropped 4.77 cents to 65 US cents with the swapping of 105 units, Proven Investments fell 1.82 cents to 16.65 US cents as investors traded 212,480 shares, Sterling Investments rallied 0.14 of a cent in ending at 2.01 US cents with an exchange of 3,072 stocks, Sygnus Credit Investments dipped 0.3 of a cent in closing at 9 US cents in switching ownership of 12,000 stocks and Transjamaican Highway increased 0.23 of a cent to end at a 52 weeks’ high of 1.25 US cents, with 13,148,422 units crossing the market, with renewed buying taking place in the stocks following full year results that show record revenues and record profit excluding one off cost of acquiring its subsidiary. Reports are that insiders see a surge in profit in 2023.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.