Jerash Holdings (US), Inc. (NASDAQ:JRSH) Shares Shorted: Short Interest Down 50.8% in September

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

Analyst Ratings Changes

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

Institutional Trading of Jerash Holdings (US)

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

Jerash Holdings (US) Price Performance

NASDAQ:JRSH traded down $0.15 during midday trading on Tuesday, hitting $5.75. 120,278 shares of the stock were exchanged, compared to its average volume of 320,824. The company has a market capitalization of $73.03 million, a price-to-earnings ratio of 15.13 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 has a one year low of $2.85 and a one year high of $5.97. The business has a 50-day moving average price of $5.27 and a two-hundred day moving average price of $4.19.

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

Jerash Holdings (US) Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.20 annualized dividend and a dividend yield of 3.5%. Jerash Holdings (US)’s payout ratio is currently 52.63%.

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.