Jerash Holdings (US), Inc. (NASDAQ:JRSH) Sees Large Increase in Short Interest

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

Jerash Holdings (US) Trading Down 2.2%

JRSH traded down $0.12 during trading on Tuesday, reaching $5.01. The company had a trading volume of 35,725 shares, compared to its average volume of 333,065. The firm’s 50-day simple moving average is $5.05 and its 200 day simple moving average is $4.01. The company has a market cap of $63.69 million, a price-to-earnings ratio of 13.20 and a beta of 1.04. Jerash Holdings has a 12-month low of $2.85 and a 12-month high of $5.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 3.11.

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

Jerash Holdings (US) Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 17th. Jerash Holdings (US)’s payout ratio is 52.63%.

Institutional Trading of Jerash Holdings (US)

A number of large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new position in shares of Jerash Holdings (US) in the first quarter worth about $43,000. Two Sigma Securities LLC acquired a new position in Jerash Holdings (US) during the 2nd quarter valued at about $95,000. BlackRock Inc. bought a new position in shares of Jerash Holdings (US) in the 2nd quarter valued at about $112,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Jerash Holdings (US) by 50.9% in 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.

Analyst Ratings Changes

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

Jerash Holdings (US) Company Profile

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.