JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Up 15.6% in March

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,030,000 shares, a growth of 15.6% from the March 15th total of 2,620,000 shares. Based on an average trading volume of 907,000 shares, the short-interest ratio is currently 3.3 days.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in JKS. FMR LLC raised its position in shares of JinkoSolar by 657.5% during the 3rd quarter. FMR LLC now owns 909 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 789 shares in the last quarter. Headlands Technologies LLC bought a new position in JinkoSolar during the 3rd quarter worth $31,000. Toroso Investments LLC bought a new position in JinkoSolar during the 3rd quarter worth $35,000. Signaturefd LLC grew its stake in JinkoSolar by 202.1% during the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock worth $37,000 after buying an additional 673 shares during the last quarter. Finally, Natixis bought a new position in JinkoSolar during the 4th quarter worth $41,000. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Stock Performance

Shares of JKS stock traded down $0.26 on Tuesday, hitting $22.50. 841,276 shares of the stock traded hands, compared to its average volume of 929,850. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. The company has a market capitalization of $1.18 billion, a PE ratio of 2.87 and a beta of 0.37. JinkoSolar has a 1-year low of $22.06 and a 1-year high of $51.35. The company’s fifty day moving average is $25.63 and its 200 day moving average is $29.46.

JinkoSolar (NYSE:JKS) last posted its quarterly 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). The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. On average, equities research analysts predict that JinkoSolar will post 5.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on JKS. StockNews.com lowered JinkoSolar from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. HSBC reissued a “hold” rating and set a $30.00 price target on shares of JinkoSolar in a research report on Monday, February 5th. UBS Group reduced their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. The Goldman Sachs Group reduced their price target on JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Thursday, April 11th. Finally, Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and a consensus 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; and develops commercial solar power projects.