JinkoSolar Holding Co., Ltd. (NYSE:JKS) Sees Significant Decline in Short Interest

JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw a significant decrease in short interest during 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. Based on an average daily volume of 769,200 shares, the days-to-cover ratio is currently 5.8 days. Approximately 10.4% of the shares of the company are sold short.

JinkoSolar Price Performance

NYSE:JKS traded up $0.16 on Wednesday, hitting $18.67. The company had a trading volume of 707,234 shares, compared to its average volume of 1,041,638. The firm has a 50 day moving average of $21.63 and a two-hundred day moving average of $23.16. The stock has a market capitalization of $992.40 million, a price-to-earnings ratio of 31.64 and a beta of 0.40. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). The firm had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm’s revenue was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, research analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

JKS has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. UBS Group decreased their target price on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. The Goldman Sachs Group lowered their price objective on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. Finally, Glj Research decreased their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Three research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.19.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co acquired a new stake in JinkoSolar in the fourth quarter valued at $55,000. Barclays PLC increased its stake in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 537 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of JinkoSolar in the fourth quarter worth approximately $119,000. New York State Common Retirement Fund bought a new stake in JinkoSolar in the fourth quarter valued at approximately $132,000. Finally, Jump Financial LLC acquired a new stake in JinkoSolar during the 4th quarter valued at approximately $200,000. 35.82% of the stock is 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.