Jason Industries (JASN) Hits New 52-Week Low at $1.67

Jason Industries Inc (NASDAQ:JASN) shares reached a new 52-week low on Thursday . The company traded as low as $1.67 and last traded at $1.73, with a volume of 1300 shares trading hands. The stock had previously closed at $1.85.

A number of research analysts recently weighed in on JASN shares. ValuEngine upgraded shares of Jason Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Zacks Investment Research cut shares of Jason Industries from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st.

The company has a market cap of $47.94 million, a price-to-earnings ratio of 172.00 and a beta of 0.59.

Jason Industries (NASDAQ:JASN) last released its earnings results on Tuesday, October 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The firm had revenue of $145.30 million for the quarter, compared to analysts’ expectations of $142.50 million. Jason Industries had a negative net margin of 0.73% and a negative return on equity of 1.05%. As a group, equities research analysts forecast that Jason Industries Inc will post -0.27 earnings per share for the current year.

In related news, major shareholder Wynnefield Partners Small Cap purchased 20,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were acquired at an average price of $1.98 per share, for a total transaction of $39,600.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Hyman purchased 35,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was bought at an average price of $2.04 per share, for a total transaction of $71,400.00. Following the purchase, the director now owns 33,000 shares in the company, valued at $67,320. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 228,001 shares of company stock worth $553,562. Corporate insiders own 19.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in JASN. JPMorgan Chase & Co. purchased a new stake in Jason Industries in the 3rd quarter worth $193,000. Millennium Management LLC lifted its stake in Jason Industries by 45.5% in the 1st quarter. Millennium Management LLC now owns 77,373 shares of the technology company’s stock worth $241,000 after purchasing an additional 24,198 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Jason Industries by 42.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 243,849 shares of the technology company’s stock worth $822,000 after purchasing an additional 72,578 shares in the last quarter. Skylands Capital LLC lifted its stake in Jason Industries by 20.5% in the 3rd quarter. Skylands Capital LLC now owns 539,500 shares of the technology company’s stock worth $1,818,000 after purchasing an additional 91,681 shares in the last quarter. Finally, Manatuck Hill Partners LLC lifted its stake in Jason Industries by 3,571.6% in the 3rd quarter. Manatuck Hill Partners LLC now owns 734,329 shares of the technology company’s stock worth $2,475,000 after purchasing an additional 714,329 shares in the last quarter. Institutional investors and hedge funds own 38.13% of the company’s stock.

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Jason Industries Company Profile (NASDAQ:JASN)

Jason Industries is the parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Indiana and Burgwald, Germany) and Sealeze (Richmond, Va.).

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