Rally in JHM Consolidation over?

KUALA LUMPUR: The rally in JHM Consolidation Bhd's share price, which has more than doubled in nearly two months seems to have come to a halt.

Shares of the Penang-based company, which produces microelectronics components, had surged from RM2.11 on Feb 13 to hit a high of RM4.45 on April 7. 

Since the April 7 high, it has been trending downwards as traders lock in their whoopping gains.

However, the paid-up is rather small at 123.73 million shares.

JHM closed down 24 sen or 6.15% at RM3.66 on Thursday, erasing RM29.6mil from its market capitalisation and reducing it to RM452.85mil.

Volume of shares traded was 6.61 million units on Thursday, ranging from RM3.62 to RM3.92.

JHM's financial performance had seen a turn around. For the financial year ended Dec 31, 2016, Its earnings jumped to RM20.33mil from RM6.45mil in FY15.

In mid-February, it announced that was all set to produce electronic lightning modules for the aerospace and aircraft industries after it was awarded the AS9100 Quality Management System certification

The certification would enable it to diversify from automotive lightning module into the global aerospace and aircraft supply chain.