Jerash Holdings (US), Inc. (NASDAQ:JRSH) Short Interest Update

Jerash Holdings (US), Inc. (NASDAQ:JRSH) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 37,920 shares, a decline of 50.8% from the August 31st total of 77,016 shares. Based on an average daily volume of 71,758 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.5% of the shares of the stock are sold short.

Jerash Holdings (US) Trading Down 1.6%

NASDAQ:JRSH traded down $0.09 during midday trading on Wednesday, reaching $5.66. 34,906 shares of the stock traded hands, compared to its average volume of 319,327. The stock has a market capitalization of $71.88 million, a P/E ratio of 14.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 3.11. The company has a fifty day moving average of $5.29 and a 200 day moving average of $4.21. Jerash Holdings has a 12 month low of $2.85 and a 12 month high of $5.97.

Jerash Holdings (US) (NASDAQ:JRSH) last released its quarterly earnings data on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, August 17th. Jerash Holdings (US)’s dividend payout ratio is currently 52.63%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Jerash Holdings (US) by 50.9% in the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock worth $787,000 after purchasing an additional 91,816 shares during the period. BlackRock Inc. bought a new stake in shares of Jerash Holdings (US) during the 2nd quarter valued at about $112,000. NewEdge Advisors LLC increased its position in shares of Jerash Holdings (US) by 19.0% during the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company’s stock valued at $95,000 after buying an additional 3,146 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in shares of Jerash Holdings (US) during the second quarter valued at about $95,000. 3.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings raised Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Jerash Holdings (US) from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 28th. Finally, DA Davidson boosted their price objective 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. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Jerash Holdings (US) presently has a consensus rating of “Buy” and an average price target of $6.00.

Jerash Holdings (US) Company Profile

Jerash Holdings (US), Inc is an apparel manufacturer that produces finished garments for global brand-name clothing companies, retailers and other customers. Its product portfolio includes knit and woven tops, outerwear, jackets, pants, shorts and other apparel items.

The company primarily operates through manufacturing facilities in Jordan, where it provides services including product development, fabric sourcing, cutting, sewing, finishing, quality control and packaging. Its facilities support the production of garments for a range of consumer and activewear markets.

Jerash serves customers in international markets, including North America, Europe and Asia.