Jerash Holdings (US), Inc. (NASDAQ:JRSH) Sees Large Increase in Short Interest

Jerash Holdings (US), Inc. (NASDAQ:JRSH – Get Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 7,000 shares, an increase of 118.8% from the April 15th total of 3,200 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 25,800 shares, the days-to-cover ratio is presently 0.3 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Warberg Asset Management LLC acquired a new position in Jerash Holdings (US) in the 3rd quarter worth $67,000. Dimensional Fund Advisors LP boosted its stake in Jerash Holdings (US) by 42.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 17,299 shares of the company’s stock worth $116,000 after purchasing an additional 5,179 shares during the period. Bailard Inc. acquired a new position in Jerash Holdings (US) in the 1st quarter worth $114,000. Aristides Capital LLC acquired a new position in Jerash Holdings (US) in the 3rd quarter worth $134,000. Finally, MYDA Advisors LLC acquired a new position in Jerash Holdings (US) in the 3rd quarter worth $202,000. 20.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Jerash Holdings (US) stock traded up $0.07 on Friday, hitting $5.86. 78,229 shares of the company’s stock traded hands, compared to its average volume of 18,824. Jerash Holdings has a one year low of $5.30 and a one year high of $9.20. The firm’s 50-day moving average price is $6.26 and its two-hundred day moving average price is $6.60. The stock has a market capitalization of $72.25 million, a PE ratio of 7.81 and a beta of 0.70.

Jerash Holdings (US) (NASDAQ:JRSH – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The company reported $0.13 EPS for the quarter. Jerash Holdings (US) had a net margin of 6.41% and a return on equity of 14.13%. The business had revenue of $36.82 million during the quarter. During the same quarter in the prior year, the company earned $0.01 EPS. Research analysts expect that Jerash Holdings will post 0.73 earnings per share for the current year.

JRSH has been the topic of a number of recent research reports. Zacks Investment Research downgraded Jerash Holdings (US) from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Lake Street Capital lifted their target price on Jerash Holdings (US) from $9.00 to $12.00 in a research report on Friday, February 11th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $10.44.

Jerash Holdings (US) Company Profile (Get Rating)

Jerash Holdings (US), Inc, through its subsidiaries, manufactures and exports customized and readymade sport and outerwear. The company offers jackets, polo shirts, t-shirts, pants, and shorts made from knitted fabric, as well as personal protective equipment. It serves various brand-name retailers in the United States, Jordan, and internationally.

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