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

Jerash Holdings (US), Inc. (NASDAQ:JRSH) saw a significant decline in short interest in 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 trading volume of 71,758 shares, the short-interest ratio is currently 0.5 days. Currently, 0.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

JRSH has been the subject of several analyst reports. Weiss Ratings upgraded shares of 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 target price 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. 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, the company presently has an average rating of “Buy” and a consensus target price of $6.00.

Jerash Holdings (US) Stock Performance

Shares of NASDAQ JRSH traded up $0.12 during midday trading on Thursday, hitting $5.78. The company’s stock had a trading volume of 36,909 shares, compared to its average volume of 317,815. The firm has a market capitalization of $73.34 million, a price-to-earnings ratio of 15.20 and a beta of 1.04. Jerash Holdings has a one year low of $2.85 and a one year high of $5.97. The company has a current ratio of 3.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $5.31 and a 200 day moving average price of $4.23.

Jerash Holdings (US) (NASDAQ:JRSH) last issued its quarterly earnings data 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 return on equity of 7.61% and a net margin of 2.77%.The company had revenue of $50.23 million for the quarter, compared to the consensus estimate of $47.90 million.

Jerash Holdings (US) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%. Jerash Holdings (US)’s payout ratio is presently 52.63%.

Hedge Funds Weigh In On Jerash Holdings (US)

A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in 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 acquiring 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 valued at $95,000. BlackRock Inc. bought a new position in shares of Jerash Holdings (US) in the second quarter worth about $112,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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. Institutional investors own 3.39% of the company’s stock.

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.