Short Interest in JinkoSolar Holding Co., Ltd. (NYSE:JKS) Declines By 6.2%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 3,500,000 shares, a decline of 6.2% from the May 31st total of 3,730,000 shares. Based on an average trading volume of 880,200 shares, the short-interest ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JKS. 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. Roth Capital lowered JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Roth Mkm reissued a “neutral” rating and set a $25.00 price target on shares of JinkoSolar in a research report on Tuesday, April 30th. The Goldman Sachs Group dropped their price objective on JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, April 11th. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.60.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of JinkoSolar by 202.1% in the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 673 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of JinkoSolar by 217.0% in the 4th quarter. Headlands Technologies LLC now owns 3,199 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 2,190 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $126,000. Daiwa Securities Group Inc. increased its holdings in shares of JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in JinkoSolar during the 1st quarter valued at approximately $207,000. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Price Performance

JKS stock opened at $22.20 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. JinkoSolar has a 52-week low of $19.93 and a 52-week high of $46.47. The stock’s 50 day moving average is $24.95 and its two-hundred day moving average is $26.66. The company has a market capitalization of $1.18 billion, a PE ratio of 3.46 and a beta of 0.39.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.83. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.27 billion. Analysts predict that JinkoSolar will post 4.03 earnings per share for the current fiscal year.

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.