Short Interest in Jerash Holdings (US), Inc. (NASDAQ:JRSH) Drops By 38.9%

Key Points

• Short interest in Jerash Holdings fell 38.9% to 38,652 shares as of August 14, representing about 0.5% of shares outstanding and just 0.3 days to cover.
• Analysts maintained a positive outlook, with ratings upgrades and DA Davidson raising its price target from $5 to $6; the consensus rating is “Buy.”
• Jerash exceeded quarterly expectations, reporting $0.13 EPS and $50.23 million in revenue, while declaring a $0.05 quarterly dividend equivalent to a 3.7% annual yield.

Jerash Holdings (US), Inc. (NASDAQ:JRSH - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 38,652 shares, a decrease of 38.9% from the July 30th total of 63,217 shares. Approximately 0.5% of the company's stock are short sold. Based on an average daily trading volume, of 128,789 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on JRSH shares. 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. DA Davidson boosted their target price 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, Wall Street Zen raised shares of Jerash Holdings (US) from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 28th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Jerash Holdings (US) has an average rating of "Buy" and a consensus price target of $6.00.

Institutional Trading of Jerash Holdings (US)

Hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC bought a new position in shares of Jerash Holdings (US) during the 2nd quarter worth approximately $95,000. BlackRock Inc. bought a new position in shares of Jerash Holdings (US) in the second quarter valued at about $112,000. NewEdge Advisors LLC acquired a new stake in shares of Jerash Holdings (US) during the 1st quarter worth about $48,000. Renaissance Technologies LLC boosted its holdings in shares of Jerash Holdings (US) by 50.9% during the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company's stock worth $787,000 after buying an additional 91,816 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Jerash Holdings (US) during the 4th quarter worth about $32,000. 3.39% of the stock is owned by institutional investors and hedge funds.

Jerash Holdings (US) Price Performance

NASDAQ:JRSH opened at $5.42 on Monday. The company has a current ratio of 3.11, a quick ratio of 1.64 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $4.88 and a 200 day simple moving average of $3.85. Jerash Holdings has a 1-year low of $2.85 and a 1-year high of $5.81. The stock has a market capitalization of $68.83 million, a PE ratio of 14.26 and a beta of 1.03.

Jerash Holdings (US) (NASDAQ:JRSH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $50.23 million during the quarter, compared to analysts' expectations of $47.90 million. Jerash Holdings (US) had a net margin of 2.77% and a return on equity of 7.61%.

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 given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 17th. Jerash Holdings (US)'s payout ratio is 52.63%.

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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