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

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

JinkoSolar Stock Performance

JKS stock traded up $1.11 during midday trading on Wednesday, hitting $22.14. 107,666 shares of the stock traded hands, compared to its average volume of 898,674. The firm has a market cap of $1.18 billion, a P/E ratio of 3.46 and a beta of 0.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.77. The stock’s fifty day simple moving average is $24.97 and its 200-day simple moving average is $26.69. JinkoSolar has a 1-year low of $19.93 and a 1-year high of $46.47.

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

Institutional Trading of JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in JinkoSolar by 202.1% during the fourth quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares in the last quarter. Headlands Technologies LLC lifted its holdings in JinkoSolar by 217.0% during the fourth quarter. Headlands Technologies LLC now owns 3,199 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 2,190 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in JinkoSolar during the fourth quarter valued at $126,000. Daiwa Securities Group Inc. lifted its holdings in JinkoSolar by 117.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Banco BTG Pactual S.A. purchased a new position in JinkoSolar during the first quarter valued at $207,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, April 11th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Roth Capital lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $25.00 price objective on shares of JinkoSolar in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.