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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 4,830,000 shares, a drop of 14.1% from the December 15th total of 5,620,000 shares. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently modified their holdings of JKS. Dimensional Fund Advisors LP boosted its stake in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares in the last quarter. Profund Advisors LLC boosted its position in JinkoSolar by 8.5% during the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares during the period. Marshall Wace LLP grew its stake in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 shares during the last quarter. Point72 Europe London LLP purchased a new position in shares of JinkoSolar in the second quarter worth about $3,023,000. Finally, Decade Renewable Partners LP bought a new stake in shares of JinkoSolar in the 2nd quarter valued at about $4,272,000. 35.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JKS. Jefferies Financial Group upped their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report 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 given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average price target of $31.33.

JinkoSolar Price Performance

JKS traded down $2.25 during trading on Friday, reaching $21.29. The stock had a trading volume of 1,552,875 shares, compared to its average volume of 745,983. The business has a 50-day moving average of $24.54 and a 200-day moving average of $22.56. JinkoSolar has a one year low of $16.70 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The stock has a market cap of $1.13 billion, a PE ratio of 36.09 and a beta of 0.30.

JinkoSolar Company Profile

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.