Short Interest in JinkoSolar Holding Co., Ltd. (NYSE:JKS) Increases By 12.3%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 3,110,000 shares, an increase of 12.3% from the April 15th total of 2,770,000 shares. Based on an average daily trading volume, of 847,200 shares, the days-to-cover ratio is presently 3.7 days.

Institutional Trading of JinkoSolar

Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in JinkoSolar by 202.1% in the fourth quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares during the last quarter. Headlands Technologies LLC acquired a new stake in JinkoSolar in the 3rd quarter valued at $31,000. Barometer Capital Management Inc. purchased a new stake in JinkoSolar in the 4th quarter worth $126,000. Daiwa Securities Group Inc. raised its position in JinkoSolar by 117.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new position in JinkoSolar during the first quarter valued at $207,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

Shares of NYSE:JKS traded down $0.20 on Friday, reaching $24.59. The company’s stock had a trading volume of 219,661 shares, compared to its average volume of 901,971. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03. JinkoSolar has a 52-week low of $21.06 and a 52-week high of $47.85. The company has a 50-day simple moving average of $24.63 and a 200 day simple moving average of $28.75. The company has a market cap of $1.31 billion, a P/E ratio of 3.87 and a beta of 0.38.

JinkoSolar (NYSE:JKS) last posted its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion. As a group, equities research analysts anticipate that JinkoSolar will post 2.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Daiwa Capital Markets lowered shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Monday, February 5th. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, April 11th. HSBC reissued a “hold” rating and set a $30.00 price target on shares of JinkoSolar in a report on Monday, February 5th. Roth Capital lowered JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Finally, Roth Mkm reissued a “neutral” rating and set a $25.00 target price on shares of JinkoSolar in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.60.

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.