Short Interest in Jerash Holdings (US), Inc. (NASDAQ:JRSH) Expands By 99.3%

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Jerash Holdings (US) from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen raised 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Jerash Holdings (US) presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Jerash Holdings (US) Stock Up 10.1%

NASDAQ JRSH traded up $0.51 during trading hours on Wednesday, hitting $5.57. 126,706 shares of the company were exchanged, compared to its average volume of 332,227. The company has a 50 day moving average of $5.06 and a two-hundred day moving average of $4.03. The company has a quick ratio of 1.64, a current ratio of 3.11 and a debt-to-equity ratio of 0.04. Jerash Holdings has a 52-week low of $2.85 and a 52-week high of $5.81. The firm has a market cap of $70.74 million, a price-to-earnings ratio of 14.74 and a beta of 1.04.

Jerash Holdings (US) (NASDAQ:JRSH) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $50.23 million for the quarter, compared to analyst estimates of $47.90 million. Jerash Holdings (US) had a return on equity of 7.61% and a net margin of 2.77%.

Jerash Holdings (US) Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.20 annualized dividend and a yield of 3.6%. Jerash Holdings (US)’s dividend payout ratio (DPR) is 52.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JRSH. NewEdge Advisors LLC raised its holdings in shares of Jerash Holdings (US) by 19.0% in the 2nd quarter. NewEdge Advisors LLC now owns 19,665 shares of the company’s stock valued at $95,000 after purchasing an additional 3,146 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Jerash Holdings (US) during the second quarter worth $95,000. BlackRock Inc. purchased a new position in Jerash Holdings (US) in the second quarter valued at $112,000. Finally, Renaissance Technologies LLC increased 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 buying an additional 91,816 shares during the last quarter. Institutional investors and hedge funds own 3.39% of the company’s stock.

About Jerash Holdings (US)

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.