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

Jerash Holdings (US), Inc. (NASDAQ:JRSH) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 77,016 shares, an increase of 99.3% from the August 15th total of 38,652 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 87,428 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 research report on Monday, August 10th. Weiss Ratings upgraded Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen raised Jerash Holdings (US) from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 28th. 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 target price of $6.00.

Institutional Investors Weigh In On Jerash Holdings (US)

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in shares of Jerash Holdings (US) by 19.0% during the 2nd 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. Two Sigma Securities LLC purchased a new position in shares of Jerash Holdings (US) in the 2nd quarter worth $95,000. BlackRock Inc. purchased a new position in shares of Jerash Holdings (US) in the 2nd quarter worth $112,000. Finally, Renaissance Technologies LLC boosted its holdings in Jerash Holdings (US) by 50.9% in the first quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock valued at $787,000 after acquiring an additional 91,816 shares during the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

Jerash Holdings (US) Trading Up 10.9%

Shares of JRSH stock opened at $5.61 on Thursday. The firm has a 50-day moving average price of $5.08 and a 200 day moving average price of $4.04. Jerash Holdings has a twelve month low of $2.85 and a twelve month high of $5.81. The company has a market capitalization of $71.25 million, a price-to-earnings ratio of 14.76 and a beta of 1.04. The company has a current ratio of 3.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04.

Jerash Holdings (US) (NASDAQ:JRSH) last released its quarterly earnings results on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The company 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) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 17th. This represents a $0.20 annualized dividend and a yield of 3.6%. Jerash Holdings (US)’s dividend payout ratio is 52.63%.

About Jerash Holdings (US)

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.