Short Interest in JinkoSolar Holding Company Limited (NYSE:JKS) Decreases By 21.5%
by Renee Jackson · The Cerbat GemJinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,740,216 shares, a decline of 21.5% from the March 15th total of 2,217,388 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 524,653 shares, the days-to-cover ratio is currently 3.3 days.
Hedge Funds Weigh In On JinkoSolar
Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in JinkoSolar during the second quarter worth approximately $47,000. Banque Cantonale Vaudoise acquired a new position in JinkoSolar in the 4th quarter valued at $58,000. Leonteq Securities AG purchased a new position in shares of JinkoSolar during the 4th quarter worth $101,000. New York State Common Retirement Fund purchased a new position in shares of JinkoSolar during the 3rd quarter worth $182,000. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of JinkoSolar by 277.9% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 5,211 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.
JinkoSolar Price Performance
Shares of JKS traded down $2.81 during trading hours on Thursday, reaching $21.41. 2,846,321 shares of the company traded hands, compared to its average volume of 663,560. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.34 and a beta of 0.59. The stock has a fifty day simple moving average of $25.42 and a 200 day simple moving average of $25.81. JinkoSolar has a fifty-two week low of $15.55 and a fifty-two week high of $31.88. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07.
JinkoSolar (NYSE:JKS – Get Free Report) last announced its earnings results on Thursday, April 16th. The semiconductor company reported ($2.29) earnings per share for the quarter, beating the consensus estimate of ($2.35) by $0.06. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. As a group, research analysts predict that JinkoSolar will post -0.24 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on JKS. Weiss Ratings lowered JinkoSolar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 7th. Daiwa Securities Group raised shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $24.50.
Read Our Latest Analysis on JKS
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.
JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.