Short Interest in JA Solar Holdings Co. (JASO) Drops By 41.9%
JA Solar Holdings Co. (NASDAQ:JASO) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 626,912 shares, a decrease of 41.9% from the October 14th total of 1,079,883 shares. Based on an average daily volume of 376,547 shares, the short-interest ratio is presently 1.7 days.
JA Solar Holdings (NASDAQ:JASO) last posted its earnings results on Wednesday, August 17th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.38. The business earned $619 million during the quarter. JA Solar Holdings had a return on equity of 11.39% and a net margin of 4.85%. During the same quarter in the previous year, the firm earned $0.27 earnings per share.
Hedge funds have recently bought and sold shares of the company. Numeric Investors LLC boosted its stake in JA Solar Holdings by 155.8% in the second quarter. Numeric Investors LLC now owns 2,156,163 shares of the company’s stock valued at $14,770,000 after buying an additional 1,313,102 shares during the last quarter. Guggenheim Capital LLC boosted its stake in JA Solar Holdings by 19.7% in the second quarter. Guggenheim Capital LLC now owns 1,340,585 shares of the company’s stock valued at $9,183,000 after buying an additional 220,544 shares during the last quarter. Prudential Financial Inc. boosted its stake in JA Solar Holdings by 3.9% in the second quarter. Prudential Financial Inc. now owns 835,900 shares of the company’s stock valued at $5,726,000 after buying an additional 31,400 shares during the last quarter. Top Ace Asset Management Ltd acquired a new stake in JA Solar Holdings during the third quarter valued at about $3,987,000. Finally, Emerald Acquisition Ltd. acquired a new stake in JA Solar Holdings during the second quarter valued at about $4,383,000. 31.72% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. Axiom Securities raised JA Solar Holdings from a “sell” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, October 6th. Credit Suisse Group AG set a $9.70 price objective on JA Solar Holdings and gave the company a “hold” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. JA Solar Holdings presently has an average rating of “Hold” and an average price target of $9.62.
About JA Solar Holdings
JA Solar Holdings Co, Ltd. is a holding company. The Company designs, develops, manufactures and sells solar power products that convert sunlight into electricity for a range of uses. The Company is engaged in manufacturing and selling solar modules, as well as silicon wafer manufacturing. The Company operates through two segments, including manufacturing and solar projects.
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