JinkoSolar Holding Co., Ltd. (NYSE:JKS) Sees Large Increase in Short Interest

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 8,550,000 shares, a growth of 14.5% from the September 30th total of 7,470,000 shares. Based on an average trading volume of 802,500 shares, the short-interest ratio is presently 10.7 days. Approximately 19.5% of the shares of the stock are short sold.

Shares of JKS stock opened at $16.05 on Wednesday. The stock’s fifty day moving average is $15.67 and its 200-day moving average is $19.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 0.95. The stock has a market capitalization of $705.14 million, a PE ratio of 10.56, a PEG ratio of 0.25 and a beta of 1.87. JinkoSolar has a 52 week low of $8.31 and a 52 week high of $24.84.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10). The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $931.74 million. JinkoSolar had a return on equity of 5.36% and a net margin of 1.72%. JinkoSolar’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, analysts forecast that JinkoSolar will post 3 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of JinkoSolar by 194.1% during the second quarter. BlackRock Inc. now owns 934,613 shares of the semiconductor company’s stock worth $20,272,000 after purchasing an additional 616,851 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of JinkoSolar by 20.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 156,047 shares of the semiconductor company’s stock worth $3,385,000 after purchasing an additional 26,892 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of JinkoSolar by 2.8% during the second quarter. Vanguard Group Inc. now owns 978,729 shares of the semiconductor company’s stock worth $21,229,000 after purchasing an additional 26,801 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of JinkoSolar by 29,117.1% during the second quarter. BNP Paribas Arbitrage SA now owns 10,226 shares of the semiconductor company’s stock worth $222,000 after purchasing an additional 10,191 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of JinkoSolar by 27,565.2% during the second quarter. Bank of America Corp DE now owns 1,680,106 shares of the semiconductor company’s stock worth $36,442,000 after purchasing an additional 1,674,033 shares during the last quarter. Institutional investors own 45.90% of the company’s stock.

A number of analysts have weighed in on the company. ValuEngine cut JinkoSolar from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded JinkoSolar from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Friday, September 27th. Finally, Credit Suisse Group upped their price target on JinkoSolar from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $18.50.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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