Jason Industries (NASDAQ:JASN) Shares Up 15.6%

Jason Industries Inc (NASDAQ:JASN)’s stock price shot up 15.6% during mid-day trading on Friday . The stock traded as high as $0.55 and last traded at $0.52, 554,781 shares traded hands during mid-day trading. An increase of 449% from the average session volume of 101,050 shares. The stock had previously closed at $0.45.

Several brokerages have recently issued reports on JASN. Zacks Investment Research raised Jason Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. ValuEngine raised Jason Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd.

The company has a 50-day moving average price of $0.55 and a 200-day moving average price of $1.27.

Jason Industries (NASDAQ:JASN) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.38). The firm had revenue of $138.30 million during the quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC lifted its stake in shares of Jason Industries by 20.7% in the first quarter. Spark Investment Management LLC now owns 59,500 shares of the technology company’s stock valued at $83,000 after buying an additional 10,200 shares during the period. BlackRock Inc. lifted its stake in shares of Jason Industries by 7.1% in the fourth quarter. BlackRock Inc. now owns 103,581 shares of the technology company’s stock valued at $142,000 after buying an additional 6,883 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Jason Industries by 72.9% in the second quarter. Essex Investment Management Co. LLC now owns 430,034 shares of the technology company’s stock valued at $280,000 after buying an additional 181,378 shares during the period. Vanguard Group Inc. lifted its stake in shares of Jason Industries by 6.5% in the second quarter. Vanguard Group Inc. now owns 770,138 shares of the technology company’s stock valued at $500,000 after buying an additional 47,000 shares during the period. Finally, Skylands Capital LLC lifted its stake in shares of Jason Industries by 9.4% in the first quarter. Skylands Capital LLC now owns 590,802 shares of the technology company’s stock valued at $827,000 after buying an additional 50,802 shares during the period. Institutional investors and hedge funds own 32.90% of the company’s stock.

About Jason Industries (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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