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

Jerash Holdings (US), Inc. (NASDAQ:JRSH) saw a significant 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. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 85,509 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Jerash Holdings (US)

Several institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in shares of Jerash Holdings (US) in the first quarter valued at approximately $43,000. Two Sigma Securities LLC purchased a new position in shares of Jerash Holdings (US) during the 2nd quarter valued at approximately $95,000. BlackRock Inc. acquired a new stake in Jerash Holdings (US) in the 2nd quarter valued at $112,000. State Street Corp grew its stake in Jerash Holdings (US) by 34.3% in the 3rd quarter. State Street Corp now owns 58,305 shares of the company’s stock valued at $330,000 after acquiring an additional 14,895 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Jerash Holdings (US) by 50.9% in the 1st quarter. Renaissance Technologies LLC now owns 272,240 shares of the company’s stock valued at $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.

Jerash Holdings (US) Price Performance

Shares of Jerash Holdings (US) stock traded down $0.05 during trading hours on Friday, reaching $7.30. The stock had a trading volume of 261,793 shares, compared to its average volume of 159,121. The stock’s 50 day moving average is $6.01 and its 200 day moving average is $4.40. 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 has a twelve month low of $2.85 and a twelve month high of $7.90. The firm has a market capitalization of $92.71 million, a PE ratio of 14.60 and a beta of 1.03.

Jerash Holdings (US) (NASDAQ:JRSH) last posted its earnings results on Tuesday, November 10th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Jerash Holdings (US) had a return on equity of 10.14% and a net margin of 3.55%. The firm had revenue of $50.29 million for the quarter, compared to analysts’ expectations of $49.95 million.

Jerash Holdings (US) Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.7%. Jerash Holdings (US)’s dividend payout ratio is currently 52.63%.

Analysts Set New Price Targets

A number of brokerages have issued reports on JRSH. Weiss Ratings reissued a “buy (b)” rating on shares of Jerash Holdings (US) in a report on Thursday. DA Davidson lifted their target price on shares of Jerash Holdings (US) from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.00.

Jerash Holdings (US) Company Profile

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.