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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a significant increase in short interest in 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 volume of 1,560,000 shares, the short-interest ratio is presently 3.2 days.

JinkoSolar Stock Up 1.2 %

JKS stock traded up $0.25 during mid-day trading on Monday, hitting $21.16. 704,630 shares of the company were exchanged, compared to its average volume of 1,074,116. The firm has a market cap of $1.12 billion, a P/E ratio of 35.86 and a beta of 0.44. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm’s 50 day simple moving average is $22.93 and its 200 day simple moving average is $22.58.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.85 billion. On average, sell-side analysts predict that JinkoSolar will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently bought and sold shares of JKS. Vanguard Group Inc. raised its holdings in shares of JinkoSolar by 0.9% in the first 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. Tidal Investments LLC lifted its position in JinkoSolar by 4.0% during the 1st quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock worth $545,000 after buying an additional 825 shares in the last quarter. Boston Partners bought a new stake in JinkoSolar during the 1st quarter worth about $575,000. SG Americas Securities LLC boosted its stake in shares of JinkoSolar by 16.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after buying an additional 2,939 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew 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 acquiring an additional 3,521 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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