Jerash Holdings (US), Inc. (NASDAQ:JRSH) Stock Short Interest Drops 50.8%

Key Points

• Short interest fell 50.8% to 37,920 shares as of September 15, representing approximately 0.5% of Jerash Holdings’ outstanding stock and just 0.5 days of average trading volume.
• Analysts maintained a positive outlook, with a consensus “Buy” rating and an average price target of $6.00. Institutional and hedge-fund ownership stood at 3.39%.
• Jerash reported quarterly earnings of $0.13 per share, exceeding estimates of $0.10, while revenue of $50.23 million also topped expectations. The company pays a quarterly dividend of $0.05 per share, implying a 3.5% annualized yield.

Jerash Holdings (US), Inc. (NASDAQ:JRSH - Get Free Report) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 37,920 shares, a decline of 50.8% from the August 31st total of 77,016 shares. Approximately 0.5% of the company's stock are short sold. Based on an average daily volume of 71,758 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Jerash Holdings (US)

Several large investors have recently added to or reduced their stakes in JRSH. NewEdge Advisors LLC lifted its stake in Jerash Holdings (US) by 19.0% in the second quarter. NewEdge Advisors LLC now owns 19,665 shares of the company's stock valued at $95,000 after buying an additional 3,146 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Jerash Holdings (US) during the second quarter worth about $95,000. BlackRock Inc. acquired a new stake in shares of Jerash Holdings (US) in the 2nd quarter worth about $112,000. Finally, Renaissance Technologies LLC increased 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 period. 3.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on JRSH shares. Wall Street Zen upgraded Jerash Holdings (US) from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 28th. DA Davidson upped their price objective on Jerash Holdings (US) from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Jerash Holdings (US) from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 14th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Jerash Holdings (US) presently has a consensus rating of "Buy" and an average target price of $6.00.

Jerash Holdings (US) Stock Performance

Shares of NASDAQ JRSH traded down $0.15 during midday trading on Tuesday, hitting $5.75. The company's stock had a trading volume of 120,278 shares, compared to its average volume of 320,824. Jerash Holdings has a 1-year low of $2.85 and a 1-year high of $5.97. The firm's fifty day moving average price is $5.27 and its 200-day moving average price is $4.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.64 and a current ratio of 3.11. The firm has a market cap of $73.03 million, a P/E ratio of 15.13 and a beta of 1.04.

Jerash Holdings (US) (NASDAQ:JRSH - Get Free Report) last released 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. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.61%. The firm had revenue of $50.23 million for the quarter, compared to analyst estimates of $47.90 million.

Jerash Holdings (US) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 17th. This represents a $0.20 dividend on an annualized basis and a yield of 3.5%. Jerash Holdings (US)'s payout ratio is currently 52.63%.

About Jerash Holdings (US)

Jerash Holdings (US), Inc is an apparel manufacturer that produces finished garments for global brand-name clothing companies, retailers and other customers. Its product portfolio includes knit and woven tops, outerwear, jackets, pants, shorts and other apparel items.

The company primarily operates through manufacturing facilities in Jordan, where it provides services including product development, fabric sourcing, cutting, sewing, finishing, quality control and packaging. Its facilities support the production of garments for a range of consumer and activewear markets.

Jerash serves customers in international markets, including North America, Europe and Asia.

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