Short Interest in JinkoSolar Holding Co., Ltd. (NYSE:JKS) Drops By 15.6%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target 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. Approximately 10.4% of the shares of the stock are sold short. Based on an average daily volume of 769,200 shares, the days-to-cover ratio is presently 5.8 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co bought a new stake in JinkoSolar in the fourth quarter valued at $55,000. Barclays PLC increased its position in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 537 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in JinkoSolar during the 4th quarter worth approximately $119,000. New York State Common Retirement Fund bought a new position in JinkoSolar in the fourth quarter worth approximately $132,000. Finally, Jump Financial LLC acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JKS shares. UBS Group cut their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Glj Research lowered their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. 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 report on Thursday, March 27th. Finally, Jefferies Financial Group lifted their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.19.

JinkoSolar Trading Down 4.0 %

JKS traded down $0.75 during midday trading on Thursday, hitting $17.83. 484,145 shares of the company were exchanged, compared to its average volume of 1,039,598. The firm’s 50 day moving average price is $21.63 and its 200-day moving average price is $23.16. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $37.36. The firm has a market capitalization of $947.49 million, a P/E ratio of 30.01 and a beta of 0.17. 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 quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 37.1% on a year-over-year basis. As a group, equities analysts forecast that JinkoSolar will post -0.24 EPS for the current fiscal year.

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.