JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Up 10.4% in October

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

JinkoSolar Stock Performance

Shares of NYSE:JKS traded up $0.25 on Monday, hitting $21.16. The company had a trading volume of 704,630 shares, compared to its average volume of 1,074,116. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 35.86 and a beta of 0.44. The stock has a 50 day moving average price of $22.93 and a 200 day moving average price of $22.58. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.37. 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 Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. Analysts expect that JinkoSolar will post -0.42 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in JinkoSolar by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock valued at $1,197,000 after purchasing an additional 7,333 shares during the period. Barclays PLC boosted its position 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 acquiring an additional 537 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of JinkoSolar in the third quarter valued at about $928,000. State Street Corp increased its position in JinkoSolar by 10.7% during the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after acquiring an additional 67,223 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in JinkoSolar in the 3rd quarter worth about $682,000. Institutional investors own 35.82% of the company’s stock.

Analyst Ratings Changes

JKS has been the topic of a number of recent analyst reports. Roth Mkm lowered their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and a consensus price target of $24.60.

About JinkoSolar

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.