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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 4,830,000 shares, a decrease of 14.1% from the December 15th total of 5,620,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

JKS has been the subject of a number of research reports. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Jefferies Financial Group raised their price target on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.33.

JinkoSolar Stock Performance

NYSE:JKS traded down $2.25 on Friday, hitting $21.29. The stock had a trading volume of 1,552,875 shares, compared to its average volume of 745,983. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 36.09 and a beta of 0.30. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The business’s 50-day simple moving average is $24.54 and its two-hundred day simple moving average is $22.56. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 647 shares in the last quarter. Barclays PLC lifted its position in shares of JinkoSolar by 30.2% during 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. Banque Cantonale Vaudoise lifted its position in shares of JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 5,265 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of JinkoSolar by 8.5% during the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.