Jerash Holdings (US) Inc (NASDAQ:JRSH) Short Interest Update

Jerash Holdings (US) Inc (NASDAQ:JRSH) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 8,600 shares, a growth of 132.4% from the July 31st total of 3,700 shares. Based on an average daily volume of 5,100 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.3% of the shares of the stock are sold short.

A hedge fund recently raised its stake in Jerash Holdings (US) stock. Royce & Associates LP lifted its position in shares of Jerash Holdings (US) Inc (NASDAQ:JRSH) by 32.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,860 shares of the company’s stock after buying an additional 36,393 shares during the period. Royce & Associates LP owned about 1.32% of Jerash Holdings (US) worth $1,101,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.76% of the company’s stock.

NASDAQ:JRSH traded down $0.08 during midday trading on Wednesday, hitting $7.40. The company had a trading volume of 2,562 shares, compared to its average volume of 8,495. The company has a market capitalization of $84.79 million, a PE ratio of 16.44 and a beta of 1.17. The company has a quick ratio of 4.62, a current ratio of 7.41 and a debt-to-equity ratio of 0.01. Jerash Holdings has a 52-week low of $4.77 and a 52-week high of $8.50. The stock’s fifty day moving average price is $7.09 and its 200-day moving average price is $7.09.

Jerash Holdings (US) (NASDAQ:JRSH) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). Jerash Holdings (US) had a net margin of 8.47% and a return on equity of 17.07%. The firm had revenue of $22.53 million for the quarter, compared to analysts’ expectations of $21.70 million. As a group, research analysts forecast that Jerash Holdings will post 0.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Sunday, August 11th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 8th. Jerash Holdings (US)’s payout ratio is currently 44.44%.

Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of Jerash Holdings (US) from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Jerash Holdings (US) from a “hold” rating to a “sell” rating in a report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Jerash Holdings (US) presently has an average rating of “Hold” and a consensus price target of $9.50.

Jerash Holdings (US) Company Profile

Jerash Holdings (US), Inc, through its subsidiaries, manufactures and exports customized and ready-made sports and outerwear. The company offers jackets, polo shirts, crew neck shirts, pants, and shorts made from knitted fabric. It serves various brand-name retailers in the United States, Jordan, and internationally.

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