Jerash Holdings (US), Inc. (NASDAQ:JRSH) Stock Short Interest Report for October

Jerash Holdings (US), Inc. (NASDAQ:JRSH) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 79,046 shares, an increase of 141.5% from the September 30th total of 32,734 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 115,748 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JRSH shares. DA Davidson boosted their target price on Jerash Holdings (US) from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings raised Jerash Holdings (US) from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $6.00.

Jerash Holdings (US) Price Performance

Shares of JRSH traded down $0.16 during midday trading on Friday, hitting $5.93. The company’s stock had a trading volume of 147,271 shares, compared to its average volume of 103,565. The company has a quick ratio of 1.64, a current ratio of 3.11 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 $6.67. The stock has a market capitalization of $75.31 million, a price-to-earnings ratio of 15.61 and a beta of 1.00. The company’s fifty day simple moving average is $5.79 and its two-hundred day simple moving average is $4.22.

Jerash Holdings (US) (NASDAQ:JRSH) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $50.23 million during 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 business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.20 annualized dividend and a dividend yield of 3.4%. Jerash Holdings (US)’s payout ratio is 52.63%.

Hedge Funds Weigh In On Jerash Holdings (US)

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of Jerash Holdings (US) by 19.0% in 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 last quarter. Two Sigma Securities LLC bought a new stake in Jerash Holdings (US) during the 2nd quarter worth $95,000. BlackRock Inc. bought a new stake in Jerash Holdings (US) during the 2nd quarter worth $112,000. Finally, Renaissance Technologies LLC increased its holdings in Jerash Holdings (US) by 50.9% in the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock worth $787,000 after purchasing an additional 91,816 shares in the last quarter. Institutional investors own 3.39% of the company’s stock.

About Jerash Holdings (US)

Jerash Holdings (US), Inc is an apparel manufacturer and exporter that produces garments for international customers and branded clothing companies. Its product range includes jackets, shirts, pants, activewear, outerwear and other woven and knit apparel.

The company manufactures its products through operations in Jordan, including facilities located in the Al-Hassan Industrial Estate. Its Jordanian production platform supports cutting, sewing, finishing, packaging and related garment-manufacturing activities, allowing Jerash to supply finished products to customers in global markets.

Jerash Holdings serves apparel brands and retailers primarily in North America and other international markets.