Jerash Holdings (US), Inc. (NASDAQ:JRSH) Sees Significant Growth in Short Interest

Jerash Holdings (US), Inc. (NASDAQ:JRSH) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 51,225 shares, a growth of 201.3% from the April 15th total of 16,999 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average trading volume of 142,282 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Several research firms have weighed in on JRSH. Weiss Ratings reissued a “hold (c)” rating on shares of Jerash Holdings (US) in a report on Tuesday, April 21st. DA Davidson reissued a “buy” rating and issued a $4.00 price objective on shares of Jerash Holdings (US) in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JRSH. Jane Street Group LLC acquired a new stake in Jerash Holdings (US) during the 2nd quarter valued at $50,000. Dimensional Fund Advisors LP boosted its position in Jerash Holdings (US) by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 90,898 shares of the company’s stock valued at $302,000 after buying an additional 3,136 shares during the last quarter. Citadel Advisors LLC boosted its position in Jerash Holdings (US) by 35.7% in the 3rd quarter. Citadel Advisors LLC now owns 41,450 shares of the company’s stock valued at $138,000 after buying an additional 10,912 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Jerash Holdings (US) by 70.6% during the third quarter. Susquehanna International Group LLP now owns 269,014 shares of the company’s stock valued at $893,000 after acquiring an additional 111,359 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Jerash Holdings (US) by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 63,541 shares of the company’s stock worth $194,000 after acquiring an additional 4,528 shares during the last quarter. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Jerash Holdings (US) Price Performance

NASDAQ:JRSH traded up $0.01 during mid-day trading on Thursday, reaching $3.31. The company’s stock had a trading volume of 790,118 shares, compared to its average volume of 139,042. Jerash Holdings has a twelve month low of $2.85 and a twelve month high of $3.60. The company’s fifty day simple moving average is $3.15 and its two-hundred day simple moving average is $3.15. The stock has a market cap of $42.04 million, a P/E ratio of 22.07 and a beta of 1.13.

Jerash Holdings (US) (NASDAQ:JRSH) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. The company had revenue of $41.77 million during the quarter, compared to analyst estimates of $42.30 million. Jerash Holdings (US) had a return on equity of 2.86% and a net margin of 1.18%.

Jerash Holdings (US) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.20 annualized dividend and a dividend yield of 6.0%. Jerash Holdings (US)’s dividend payout ratio is presently 133.33%.

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.