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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 4,440,000 shares, a decrease of 15.6% from the February 28th total of 5,260,000 shares. Currently, 10.4% of the company’s shares are short sold. Based on an average daily trading volume, of 769,200 shares, the days-to-cover ratio is presently 5.8 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group dropped their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Jefferies Financial Group upped their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Glj Research decreased their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JKS. CANADA LIFE ASSURANCE Co acquired a new stake in JinkoSolar in the 4th quarter valued at approximately $55,000. Barclays PLC raised its stake in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in JinkoSolar in the fourth quarter worth about $119,000. New York State Common Retirement Fund bought a new position in JinkoSolar in the 4th quarter valued at about $132,000. Finally, Jump Financial LLC acquired a new position in JinkoSolar during the 4th quarter valued at about $200,000. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Stock Performance

Shares of NYSE JKS opened at $18.71 on Tuesday. The stock has a market capitalization of $994.42 million, a P/E ratio of 31.71 and a beta of 0.40. The firm’s 50-day moving average price is $21.69 and its two-hundred day moving average price is $23.20. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. 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 (NYSE:JKS) last issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The company had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. JinkoSolar’s quarterly revenue was down 37.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, sell-side analysts forecast that JinkoSolar will post -0.24 earnings per share for the current year.

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.