JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Down 14.1% in December

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a large drop in short interest in 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 trading volume, of 1,560,000 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the company. Decade Renewable Partners LP purchased a new stake in shares of JinkoSolar in the second quarter valued at about $4,272,000. Millennium Management LLC increased its holdings in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after buying an additional 161,888 shares in the last quarter. Marshall Wace LLP increased its holdings in JinkoSolar by 49.5% in 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 in the last quarter. Point72 Europe London LLP acquired a new stake in shares of JinkoSolar in the second quarter valued at approximately $3,023,000. Finally, Dimensional Fund Advisors LP grew its position in shares of JinkoSolar by 8.2% in the second 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 during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on JKS shares. Jefferies Financial Group increased their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Stock Down 9.6 %

Shares of JKS stock traded down $2.25 on Friday, reaching $21.29. 1,552,875 shares of the stock were exchanged, compared to its average volume of 745,983. 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 50 day moving average price is $24.54 and its 200 day moving average price is $22.56. The company 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 twelve month low of $16.70 and a twelve month high of $37.36.

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.