Jerash Holdings (US) (NASDAQ:JRSH) Trading Up 4.5% – Here’s What Happened

Jerash Holdings (US), Inc. (NASDAQ:JRSH) shares traded up 4.5% during trading on Monday . The company traded as high as $3.07 and last traded at $3.00. 18,700 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 27,552 shares. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JRSH. DA Davidson reaffirmed a “buy” rating and set a $4.00 price objective on shares of Jerash Holdings (US) in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Jerash Holdings (US) in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Jerash Holdings (US) Stock Up 4.5%

The business has a 50 day moving average price of $3.14 and a two-hundred day moving average price of $3.19. The stock has a market cap of $38.10 million, a P/E ratio of 20.00 and a beta of 1.04.

Jerash Holdings (US) (NASDAQ:JRSH) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. Jerash Holdings (US) had a return on equity of 2.86% and a net margin of 1.18%.The company had revenue of $41.77 million for the quarter, compared to analysts’ expectations of $42.30 million.

Jerash Holdings (US) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, February 13th. Jerash Holdings (US)’s payout ratio is 133.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Jerash Holdings (US) in the fourth quarter worth about $32,000. Jane Street Group LLC purchased a new position in Jerash Holdings (US) during the 4th quarter valued at approximately $48,000. State Street Corp increased its stake in Jerash Holdings (US) by 27.6% in the 4th quarter. State Street Corp now owns 21,705 shares of the company’s stock worth $66,000 after acquiring an additional 4,700 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Jerash Holdings (US) by 35.7% during the 3rd quarter. Citadel Advisors LLC now owns 41,450 shares of the company’s stock worth $138,000 after acquiring an additional 10,912 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Jerash Holdings (US) by 166.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 48,083 shares of the company’s stock valued at $147,000 after acquiring an additional 30,055 shares during the last quarter. Hedge funds and other institutional investors own 3.39% of the company’s stock.

About Jerash Holdings (US)

Jerash Holdings (NASDAQ:JRSH) is a global designer, manufacturer and marketer of intimate apparel, sportswear and swimwear. Founded in 1994 in the Jerash special economic zone of Jordan, the company has built a vertically integrated production model that spans product design, raw material sourcing, fabric printing, sewing and finishing. By controlling each stage of the manufacturing process, Jerash maintains strict quality standards and achieves competitive lead times for its apparel collections.

Operating state-of-the-art facilities in Jordan with a workforce of more than 10,000 employees, Jerash produces both proprietary brands and private-label merchandise for major retailers.