Jerash Holdings (US), Inc. (NASDAQ:JRSH) Shares Shorted: Short Interest Down 50.8% in October

Key Points

• Short interest fell 50.8% in October to 38,898 shares, equal to about 0.5% of outstanding shares and 0.5 days of average trading volume.
• Jerash reported quarterly EPS of $0.16, double the $0.08 consensus estimate, and revenue of $50.29 million, slightly above expectations.
• DA Davidson raised its price target to $10 and maintained a Buy rating; the company also declared a $0.05 quarterly dividend, representing a 2.7% yield.

Jerash Holdings (US), Inc. (NASDAQ:JRSH - Get Free Report) saw a large drop in short interest in October. As of October 30th, there was short interest totaling 38,898 shares, a drop of 50.8% from the October 15th total of 79,046 shares. Based on an average daily trading volume, of 85,509 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the company's shares are sold short.

Institutional Trading of Jerash Holdings (US)

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Jerash Holdings (US) by 50.9% in the first 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. BlackRock Inc. acquired a new stake in Jerash Holdings (US) during the 2nd quarter worth about $112,000. Two Sigma Securities LLC acquired a new stake in Jerash Holdings (US) during the 2nd quarter worth about $95,000. NewEdge Advisors LLC purchased a new position in shares of Jerash Holdings (US) during the 1st quarter valued at about $48,000. Finally, State Street Corp raised its stake in shares of Jerash Holdings (US) by 34.3% during the 3rd quarter. State Street Corp now owns 58,305 shares of the company's stock valued at $330,000 after buying an additional 14,895 shares during the last quarter. Hedge funds and other institutional investors own 3.39% of the company's stock.

Jerash Holdings (US) Stock Down 0.7%

NASDAQ JRSH traded down $0.05 during trading on Friday, reaching $7.30. 261,793 shares of the company's stock traded hands, compared to its average volume of 159,121. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.11 and a quick ratio of 1.64. The firm has a market cap of $92.71 million, a price-to-earnings ratio of 14.60 and a beta of 1.03. The company's 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $4.40. Jerash Holdings has a 12-month low of $2.85 and a 12-month high of $7.90.

Jerash Holdings (US) (NASDAQ:JRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. Jerash Holdings (US) had a net margin of 3.55% and a return on equity of 10.14%. The firm had revenue of $50.29 million during the quarter, compared to analysts' expectations of $49.95 million.

Jerash Holdings (US) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. Jerash Holdings (US)'s payout ratio is presently 52.63%.

Analyst Upgrades and Downgrades

JRSH has been the topic of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Jerash Holdings (US) in a research note on Thursday. DA Davidson upped their target price on Jerash Holdings (US) from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $10.00.

About Jerash Holdings (US)

Jerash Holdings (US), Inc. manufactures and exports apparel through its subsidiaries in Jordan. Its products include sportswear, outerwear and other ready-made garments, such as jackets, shirts, pants and shorts. The company provides contract manufacturing services for international apparel brands, producing garments to customers' specifications. Its products are sold to customers in markets including North America and Europe. Jerash's manufacturing operations are based in Jordan. The company is led by Chairman and Chief Executive Officer Samih Sawalha.

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