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

Key Points

• Short interest nearly doubled to 77,016 shares as of August 31, up 99.3% from mid-August; short interest represents about 1.0% of Jerash Holdings’ outstanding shares.
• Jerash reported quarterly EPS of $0.13, exceeding estimates by $0.03, while revenue of $50.23 million also topped expectations. The company pays a quarterly dividend of $0.05 per share, implying a 4.0% annualized yield.
• Analyst sentiment remains positive: two analysts rate the stock “Buy,” with an average price target of $6.00 versus a recent price of $5.01.

Jerash Holdings (US), Inc. (NASDAQ:JRSH - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 77,016 shares, an increase of 99.3% from the August 15th total of 38,652 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 87,428 shares, the short-interest ratio is presently 0.9 days.

Jerash Holdings (US) Price Performance

JRSH traded down $0.12 on Tuesday, reaching $5.01. 35,725 shares of the company's stock were exchanged, compared to its average volume of 333,065. The stock has a market cap of $63.69 million, a PE ratio of 13.20 and a beta of 1.04. The stock's fifty day moving average price is $5.05 and its 200-day moving average price is $4.01. Jerash Holdings has a twelve month low of $2.85 and a twelve month high of $5.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 1.64.

Jerash Holdings (US) (NASDAQ:JRSH - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $47.90 million.

Jerash Holdings (US) Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in Jerash Holdings (US) during the 1st quarter worth approximately $43,000. Two Sigma Securities LLC acquired a new stake in Jerash Holdings (US) in the second quarter valued at about $95,000. BlackRock Inc. purchased a new stake in shares of Jerash Holdings (US) in the second quarter valued at approximately $112,000. Finally, Renaissance Technologies LLC boosted its holdings in Jerash Holdings (US) by 50.9% during 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 and hedge funds own 3.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson boosted their price objective on Jerash Holdings (US) from $5.00 to $6.00 and gave the company a "buy" rating in a report on Monday, August 10th. 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. Finally, Weiss Ratings upgraded shares of Jerash Holdings (US) from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Jerash Holdings (US) currently has an average rating of "Buy" and an average price target 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.

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