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

Jerash Holdings (US) Inc (NASDAQ:JRSH) saw a significant decline in short interest in March. As of March 13th, there was short interest totalling 2,900 shares, a decline of 37.0% from the February 27th total of 4,600 shares. Based on an average daily volume of 900 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.1% of the shares of the stock are sold short.

Shares of NASDAQ JRSH traded up $0.69 during midday trading on Thursday, hitting $5.14. 1,600 shares of the company’s stock were exchanged, compared to its average volume of 4,598. Jerash Holdings has a 12-month low of $3.60 and a 12-month high of $8.00. The company has a current ratio of 6.43, a quick ratio of 4.90 and a debt-to-equity ratio of 0.01. The company has a market cap of $51.64 million, a price-to-earnings ratio of 8.43 and a beta of 0.87. The business’s fifty day moving average price is $5.96 and its two-hundred day moving average price is $6.51.

Jerash Holdings (US) (NASDAQ:JRSH) last issued its earnings results on Thursday, February 13th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.10. The business had revenue of $25.45 million during the quarter. Jerash Holdings (US) had a return on equity of 13.21% and a net margin of 7.52%. Equities analysts expect that Jerash Holdings will post 0.7 earnings per share for the current fiscal year.

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

Several brokerages have recently commented on JRSH. DA Davidson boosted their price objective on Jerash Holdings (US) from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, February 14th. ValuEngine raised Jerash Holdings (US) from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research lowered Jerash Holdings (US) from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th.

A number of hedge funds have recently made changes to their positions in JRSH. Millennium Management LLC bought a new stake in Jerash Holdings (US) in the third quarter valued at approximately $245,000. 1492 Capital Management LLC bought a new stake in Jerash Holdings (US) in the fourth quarter valued at approximately $589,000. Finally, Renaissance Technologies LLC lifted its position in Jerash Holdings (US) by 44.9% in the fourth quarter. Renaissance Technologies LLC now owns 21,888 shares of the company’s stock valued at $128,000 after purchasing an additional 6,786 shares during the last quarter. Hedge funds and other institutional investors own 6.58% of the company’s stock.

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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