JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Update

JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,000,000 shares, a growth of 10.4% from the October 15th total of 4,530,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

JKS has been the subject of a number of analyst reports. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Roth Mkm dropped their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group cut their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, JinkoSolar currently has a consensus rating of “Hold” and an average target price of $24.60.

JinkoSolar Stock Performance

JKS traded up $0.25 during trading on Monday, hitting $21.16. 704,630 shares of the stock were exchanged, compared to its average volume of 1,074,116. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.37. The firm has a market capitalization of $1.12 billion, a P/E ratio of 35.86 and a beta of 0.44. The stock has a fifty day moving average price of $22.93 and a two-hundred day moving average price of $22.58.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. As a group, sell-side analysts predict that JinkoSolar will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock worth $40,080,000 after purchasing an additional 14,491 shares in the last quarter. Tidal Investments LLC raised its stake in shares of JinkoSolar by 4.0% in the 1st quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock valued at $545,000 after acquiring an additional 825 shares during the period. Boston Partners acquired a new position in JinkoSolar during the 1st quarter worth approximately $575,000. SG Americas Securities LLC lifted its stake in shares of JinkoSolar by 16.0% in the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 2,939 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of JinkoSolar by 43.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after buying an additional 3,521 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.