Jerash Holdings (US) (NASDAQ:JRSH) Raised to Hold at Wall Street Zen

Jerash Holdings (US) (NASDAQ:JRSH) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently issued reports on JRSH. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of Jerash Holdings (US) in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Jerash Holdings (US) in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Jerash Holdings (US) Stock Performance

Shares of NASDAQ JRSH opened at $3.40 on Friday. The firm’s 50 day moving average price is $3.21 and its 200-day moving average price is $3.15. The company has a market cap of $43.18 million, a PE ratio of 22.67 and a beta of 1.13. Jerash Holdings has a 52-week low of $2.85 and a 52-week high of $3.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Jerash Holdings (US) during the fourth quarter valued at approximately $32,000. NewEdge Advisors LLC purchased a new position in shares of Jerash Holdings (US) during the first quarter valued at approximately $43,000. Jane Street Group LLC purchased a new position in shares of Jerash Holdings (US) during the second quarter valued at approximately $50,000. State Street Corp raised its holdings in shares of Jerash Holdings (US) by 27.6% during the fourth quarter. State Street Corp now owns 21,705 shares of the company’s stock valued at $66,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in Jerash Holdings (US) by 35.7% during the third 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. 3.39% of the stock is owned by hedge funds and other institutional investors.

About Jerash Holdings (US)

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.