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

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JKS shares. Glj Research reduced their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.42.

JinkoSolar Stock Performance

NYSE:JKS traded down $0.25 during mid-day trading on Friday, hitting $20.72. 435,761 shares of the company’s stock traded hands, compared to its average volume of 786,454. The firm has a 50 day moving average of $24.35 and a two-hundred day moving average of $22.45. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 35.12 and a beta of 0.30. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On JinkoSolar

Several large investors have recently added to or reduced their stakes in JKS. Signaturefd LLC raised its holdings in shares of JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after buying an additional 647 shares in the last quarter. Barclays PLC raised its holdings in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of JinkoSolar in the 4th quarter worth approximately $132,000. Banque Cantonale Vaudoise raised its holdings in shares of JinkoSolar by 198.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after buying an additional 5,265 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.