Jerash Holdings (US), Inc. (NASDAQ:JRSH) Shares Shorted: Short Interest Up 141.5% in October

Key Points

• Short interest surged 141.5% to 79,046 shares as of October 15, representing approximately 1.1% of Jerash Holdings’ outstanding shares and 0.7 days of average trading volume.
• JRSH shares fell 2.0% to $5.97, while still trading above their 50-day and 200-day moving averages; the stock’s 52-week range is $2.85 to $6.67.
• The company exceeded quarterly expectations with EPS of $0.13 versus the $0.10 estimate and revenue of $50.23 million. Analysts maintain a consensus “Buy” rating with a $6.00 price target, and Jerash pays a $0.20 annualized dividend yielding 3.4%.

Jerash Holdings (US), Inc. (NASDAQ:JRSH - Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 79,046 shares, a growth of 141.5% from the September 30th total of 32,734 shares. Based on an average trading volume of 115,748 shares, the short-interest ratio is presently 0.7 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Trading of Jerash Holdings (US)

Several large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in shares of Jerash Holdings (US) by 19.0% in the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company's stock worth $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 second quarter valued at about $95,000. BlackRock Inc. bought a new stake in Jerash Holdings (US) in the second quarter worth $112,000. Finally, Renaissance Technologies LLC lifted its holdings 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 worth $787,000 after acquiring an additional 91,816 shares during the last quarter. Institutional investors own 3.39% of the company's stock.

Jerash Holdings (US) Trading Down 2.0%

JRSH stock traded down $0.12 during midday trading on Friday, hitting $5.97. The stock had a trading volume of 113,018 shares, compared to its average volume of 296,372. The business has a fifty day moving average price of $5.78 and a two-hundred day moving average price of $4.20. Jerash Holdings has a 1-year low of $2.85 and a 1-year high of $6.67. The firm has a market cap of $75.81 million, a P/E ratio of 15.66 and a beta of 1.00. The company has a current ratio of 3.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04.

Jerash Holdings (US) (NASDAQ:JRSH - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for 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 paid 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 dividend payout ratio (DPR) is 52.63%.

Analyst Upgrades and Downgrades

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

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.

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