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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 4,740,000 shares, an increase of 8.7% from the June 30th total of 4,360,000 shares. Based on an average daily volume of 829,900 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JKS. Roth Mkm reaffirmed a “neutral” rating and issued a $25.00 price target on shares of JinkoSolar in a research note on Tuesday, April 30th. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Thursday, April 11th. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.60.

JinkoSolar Stock Down 3.7 %

JinkoSolar stock traded down $0.79 during mid-day trading on Tuesday, reaching $20.46. The company’s stock had a trading volume of 336,831 shares, compared to its average volume of 878,942. The business’s 50 day simple moving average is $23.74 and its 200 day simple moving average is $25.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03. JinkoSolar has a 12 month low of $19.93 and a 12 month high of $43.15. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 3.13 and a beta of 0.39.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.83. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.27 billion. As a group, research analysts anticipate that JinkoSolar will post 4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of JinkoSolar by 43.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 3,521 shares during the last quarter. SG Americas Securities LLC grew its position 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 valued at $442,000 after acquiring an additional 2,939 shares during the period. Boston Partners acquired a new position in shares of JinkoSolar during the 1st quarter worth about $575,000. Tidal Investments LLC raised its holdings 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 purchasing an additional 825 shares during the period. Finally, Vanguard Group Inc. lifted its stake in JinkoSolar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock valued at $40,080,000 after purchasing an additional 14,491 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

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.