Jerash Holdings (US), Inc. (NASDAQ:JRSH) Sees Significant Decline in Short Interest

Jerash Holdings (US), Inc. (NASDAQ:JRSHGet Free Report) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 38,652 shares, a drop of 38.9% from the July 30th total of 63,217 shares. Based on an average daily trading volume, of 128,789 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms have recently commented on JRSH. DA Davidson boosted their target price on shares of Jerash Holdings (US) from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Jerash Holdings (US) from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 28th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Jerash Holdings (US) presently has a consensus rating of “Buy” and a consensus price target of $6.00.

Check Out Our Latest Report on JRSH

Hedge Funds Weigh In On Jerash Holdings (US)

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Jerash Holdings (US) during the 4th quarter valued at $32,000. NewEdge Advisors LLC purchased a new position in Jerash Holdings (US) during the first quarter worth $43,000. Jane Street Group LLC purchased a new position in Jerash Holdings (US) during the fourth quarter worth $48,000. State Street Corp increased its position in Jerash Holdings (US) by 27.6% during the fourth quarter. State Street Corp now owns 21,705 shares of the company’s stock valued at $66,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in Jerash Holdings (US) during the second quarter valued at $95,000. Hedge funds and other institutional investors own 3.39% of the company’s stock.

Jerash Holdings (US) Price Performance

Shares of NASDAQ:JRSH traded up $0.06 on Wednesday, reaching $5.58. The company’s stock had a trading volume of 24,970 shares, compared to its average volume of 345,776. Jerash Holdings has a 52-week low of $2.85 and a 52-week high of $5.81. The company has a market cap of $70.90 million, a P/E ratio of 14.71 and a beta of 1.03. The company has a 50-day simple moving average of $4.92 and a 200 day simple moving average of $3.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 3.11.

Jerash Holdings (US) (NASDAQ:JRSHGet Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $50.23 million for the quarter, compared to analysts’ expectations of $47.90 million. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.61%.

Jerash Holdings (US) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 17th. Jerash Holdings (US)’s dividend payout ratio (DPR) is presently 52.63%.

Jerash Holdings (US) Company Profile

(Get Free Report)

Jerash Holdings (NASDAQ:JRSH) is a global designer, manufacturer and marketer of intimate apparel, sportswear and swimwear. Founded in 1994 in the Jerash special economic zone of Jordan, the company has built a vertically integrated production model that spans product design, raw material sourcing, fabric printing, sewing and finishing. By controlling each stage of the manufacturing process, Jerash maintains strict quality standards and achieves competitive lead times for its apparel collections.

Operating state-of-the-art facilities in Jordan with a workforce of more than 10,000 employees, Jerash produces both proprietary brands and private-label merchandise for major retailers.

Further Reading

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