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

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

JinkoSolar Price Performance

JKS stock traded down $0.26 during trading on Tuesday, hitting $22.50. The company had a trading volume of 841,276 shares, compared to its average volume of 929,850. The company has a fifty day moving average price of $25.63 and a two-hundred day moving average price of $29.46. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.18 billion, a P/E ratio of 2.87 and a beta of 0.37. JinkoSolar has a fifty-two week low of $22.06 and a fifty-two week high of $51.35.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing the consensus estimate of $2.32 by ($1.11). The company had revenue of $4.62 billion during 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%. Equities research analysts expect that JinkoSolar will post 5.27 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after purchasing an additional 150,262 shares in the last quarter. GSA Capital Partners LLP acquired a new position in JinkoSolar in the third quarter worth $1,726,000. Mackenzie Financial Corp boosted its stake in JinkoSolar by 22.6% in the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after purchasing an additional 493,976 shares in the last quarter. Vanguard Group Inc. boosted its stake in JinkoSolar by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after purchasing an additional 27,438 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in JinkoSolar by 160.4% in the third quarter. Aigen Investment Management LP now owns 39,529 shares of the semiconductor company’s stock worth $1,200,000 after purchasing an additional 24,351 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Wall Street Analysts Forecast Growth

JKS has been the topic of several recent analyst reports. Roth Capital downgraded JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. The Goldman Sachs Group dropped 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. Roth Mkm reaffirmed a “neutral” rating and issued a $25.00 price target (down from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Monday, February 5th. Finally, HSBC reissued a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company presently 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; and develops commercial solar power projects.