JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Up 13.9% in October

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,740,000 shares, a growth of 13.9% from the September 30th total of 8,550,000 shares. Currently, 22.2% of the shares of the company are sold short. Based on an average daily trading volume, of 805,800 shares, the days-to-cover ratio is currently 12.1 days.

JinkoSolar stock traded down $0.08 on Friday, hitting $14.95. The company’s stock had a trading volume of 574,050 shares, compared to its average volume of 705,787. The firm has a market cap of $661.52 million, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.25 and a beta of 1.87. The company has a quick ratio of 0.73, a current ratio of 0.95 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $15.39 and a 200-day moving average price of $19.17. JinkoSolar has a one year low of $8.35 and a one year high of $24.84.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.10). JinkoSolar had a net margin of 1.72% and a return on equity of 5.36%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $931.74 million. During the same period last year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that JinkoSolar will post 3 EPS for the current year.

JKS has been the subject of a number of analyst reports. Credit Suisse Group boosted their price objective on shares of JinkoSolar from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. ValuEngine cut shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of JinkoSolar from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in JinkoSolar during the 2nd quarter worth about $38,000. Advisors Preferred LLC acquired a new position in JinkoSolar during the 2nd quarter valued at about $55,000. Tower Research Capital LLC TRC acquired a new position in JinkoSolar during the 2nd quarter valued at about $59,000. Ladenburg Thalmann Financial Services Inc. lifted its position in JinkoSolar by 136.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,900 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 2,250 shares during the period. Finally, Krane Funds Advisors LLC lifted its position in JinkoSolar by 13.4% during the 2nd quarter. Krane Funds Advisors LLC now owns 4,880 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 577 shares during the period. 45.90% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

Read More: What are trading strategies for the 52-week high/low?

Receive News & Ratings for JinkoSolar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JinkoSolar and related companies with MarketBeat.com's FREE daily email newsletter.