JinkoSolar Holding Company Limited (NYSE:JKS) Short Interest Up 29.0% in December

JinkoSolar Holding Company Limited (NYSE:JKS) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 2,499,094 shares, an increase of 29.0% from the November 30th total of 1,937,529 shares. Currently, 6.0% of the company’s stock are short sold. Based on an average daily trading volume, of 557,203 shares, the short-interest ratio is currently 4.5 days. Based on an average daily trading volume, of 557,203 shares, the short-interest ratio is currently 4.5 days. Currently, 6.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JKS shares. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Roth Capital boosted their target price on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. The Goldman Sachs Group lifted their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen cut JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Three research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, JinkoSolar presently has a consensus rating of “Strong Sell” and a consensus target price of $19.49.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of JinkoSolar during the first quarter valued at $598,000. Acadian Asset Management LLC lifted its holdings in JinkoSolar by 41.2% in the first quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock worth $7,220,000 after purchasing an additional 113,187 shares during the period. Public Employees Retirement System of Ohio grew its position in JinkoSolar by 51.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock valued at $719,000 after buying an additional 11,500 shares in the last quarter. XTX Topco Ltd acquired a new position in JinkoSolar during the 2nd quarter valued at about $1,160,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in JinkoSolar by 18.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after buying an additional 3,608 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Price Performance

JKS opened at $26.35 on Wednesday. JinkoSolar has a twelve month low of $13.42 and a twelve month high of $31.88. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -2.88 and a beta of 0.49. The company has a fifty day simple moving average of $26.01 and a 200 day simple moving average of $24.22.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. Equities research analysts expect that JinkoSolar will post -0.24 EPS for the current fiscal year.

About JinkoSolar

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.