Jerash Holdings (US) Inc (NASDAQ:JRSH) Sees Large Drop in Short Interest

Jerash Holdings (US) Inc (NASDAQ:JRSH) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totalling 2,900 shares, a decrease of 37.0% from the February 27th total of 4,600 shares. Based on an average trading volume of 900 shares, the short-interest ratio is currently 3.2 days. Approximately 0.1% of the company’s stock are sold short.

Shares of Jerash Holdings (US) stock traded up $0.69 during trading on Thursday, hitting $5.14. 1,600 shares of the company’s stock traded hands, compared to its average volume of 4,598. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.43 and a quick ratio of 4.90. Jerash Holdings has a 1 year low of $3.60 and a 1 year high of $8.00. The stock has a market capitalization of $51.64 million, a P/E ratio of 8.43 and a beta of 0.87. The business has a 50-day simple moving average of $5.96 and a 200-day simple moving average of $6.51.

Jerash Holdings (US) (NASDAQ:JRSH) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. Jerash Holdings (US) had a return on equity of 13.21% and a net margin of 7.52%. The company had revenue of $25.45 million for the quarter. On average, equities analysts predict that Jerash Holdings will post 0.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.20 annualized dividend and a dividend yield of 3.89%. Jerash Holdings (US)’s dividend payout ratio (DPR) is presently 44.44%.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Jerash Holdings (US) from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. ValuEngine raised Jerash Holdings (US) from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, DA Davidson increased their target price on Jerash Holdings (US) from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

Several institutional investors have recently added to or reduced their stakes in JRSH. Millennium Management LLC purchased a new stake in shares of Jerash Holdings (US) during the third quarter valued at $245,000. 1492 Capital Management LLC purchased a new stake in shares of Jerash Holdings (US) during the fourth quarter valued at $589,000. Finally, Renaissance Technologies LLC boosted its position in shares of Jerash Holdings (US) by 44.9% during the fourth quarter. Renaissance Technologies LLC now owns 21,888 shares of the company’s stock valued at $128,000 after buying an additional 6,786 shares during the last quarter. 6.58% of the stock is currently owned by institutional investors.

Jerash Holdings (US) Company Profile

Jerash Holdings (US), Inc, through its subsidiaries, manufactures and exports customized and ready-made sports and outerwear. The company offers jackets, polo shirts, crew neck shirts, pants, and shorts made from knitted fabric. It serves various brand-name retailers in the United States, Jordan, and internationally.

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