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 trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 3.1 days.

JinkoSolar Trading Down 9.6 %

Shares of NYSE:JKS traded down $2.25 during trading on Friday, reaching $21.29. 1,552,875 shares of the company traded hands, compared to its average volume of 745,983. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 36.09 and a beta of 0.30. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average is $24.54 and its 200-day moving average is $22.56.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in JinkoSolar by 108.0% in the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares during the period. Barclays PLC lifted its stake in JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares during the period. Banque Cantonale Vaudoise raised its holdings in JinkoSolar by 198.1% in the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 5,265 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JKS. Jefferies Financial Group upped their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.33.

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.