Jerash Holdings (US) (NASDAQ:JRSH) Shares Down 2.9% – Here’s What Happened

Jerash Holdings (US), Inc. (NASDAQ:JRSH) fell 2.9% during trading on Monday. The company traded as low as $5.87 and last traded at $5.95. Approximately 85,312 shares were traded during mid-day trading, a decline of 15% from the average session volume of 99,897 shares. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

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

Jerash Holdings (US) Stock Down 2.9%

The firm’s 50-day moving average is $5.75 and its 200 day moving average is $4.16. 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 stock has a market cap of $75.56 million, a price-to-earnings ratio of 15.66 and a beta of 1.00.

Jerash Holdings (US) (NASDAQ:JRSH) last issued its earnings results on Monday, August 10th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. Jerash Holdings (US) had a return on equity of 7.61% and a net margin of 2.77%. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.20 annualized dividend and a yield of 3.4%. Jerash Holdings (US)’s dividend payout ratio is presently 52.63%.

Institutional Trading of Jerash Holdings (US)

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted 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 buying an additional 3,146 shares during the period. Two Sigma Securities LLC bought a new stake in shares of Jerash Holdings (US) during the 2nd quarter worth $95,000. BlackRock Inc. acquired a new stake in Jerash Holdings (US) in the 2nd quarter valued at approximately $112,000. Finally, Renaissance Technologies LLC raised its stake in Jerash Holdings (US) by 50.9% during the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock valued at $787,000 after purchasing an additional 91,816 shares during the last quarter. 3.39% of the stock is currently owned by institutional investors.

About Jerash Holdings (US)

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.