Jerash Holdings (US), Inc. (NASDAQ:JRSH) Sees Large Increase in Short Interest

Jerash Holdings (US), Inc. (NASDAQ:JRSH – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 79,046 shares, a growth of 141.5% from the September 30th total of 32,734 shares. Based on an average daily trading volume, of 115,748 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.1% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. DA Davidson increased their price target on shares of Jerash Holdings (US) from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $6.00.

Get Our Latest Stock Analysis on JRSH

Jerash Holdings (US) Price Performance

Shares of NASDAQ JRSH traded down $0.12 during mid-day trading on Friday, reaching $5.97. 113,018 shares of the company traded hands, compared to its average volume of 296,372. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 1.64. The firm has a market cap of $75.81 million, a PE ratio of 15.66 and a beta of 1.00. Jerash Holdings has a fifty-two week low of $2.85 and a fifty-two week high of $6.67. The stock has a fifty day simple moving average of $5.78 and a 200-day simple moving average of $4.20.

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

Jerash Holdings (US) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, August 17th. Jerash Holdings (US)’s payout ratio is 52.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Jerash Holdings (US) by 19.0% in the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company’s stock worth $95,000 after acquiring an additional 3,146 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Jerash Holdings (US) during the second quarter valued at about $95,000. BlackRock Inc. bought a new position in Jerash Holdings (US) in the 2nd quarter worth about $112,000. Finally, Renaissance Technologies LLC boosted its stake in Jerash Holdings (US) by 50.9% in the first quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock worth $787,000 after buying an additional 91,816 shares in the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

Jerash Holdings (US) Company Profile

(Get Free Report)

Jerash Holdings (US), Inc is an apparel manufacturer and exporter that produces garments for international customers and branded clothing companies. Its product range includes jackets, shirts, pants, activewear, outerwear and other woven and knit apparel.

The company manufactures its products through operations in Jordan, including facilities located in the Al-Hassan Industrial Estate. Its Jordanian production platform supports cutting, sewing, finishing, packaging and related garment-manufacturing activities, allowing Jerash to supply finished products to customers in global markets.

Jerash Holdings serves apparel brands and retailers primarily in North America and other international markets.

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