JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Update

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 4,530,000 shares, a decline of 5.6% from the September 30th total of 4,800,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Trading of JinkoSolar

Several large investors have recently added to or reduced their stakes in JKS. Decade Renewable Partners LP acquired a new position in shares of JinkoSolar during the 2nd quarter valued at about $4,272,000. Millennium Management LLC raised its stake in JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after purchasing an additional 161,888 shares during the period. Marshall Wace LLP boosted its holdings in JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after purchasing an additional 148,268 shares during the last quarter. Point72 Europe London LLP purchased a new stake in shares of JinkoSolar in the 2nd quarter valued at approximately $3,023,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of JinkoSolar by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after buying an additional 74,219 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Stock Up 3.0 %

JKS stock opened at $27.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $38.65. The stock has a market capitalization of $1.45 billion, a P/E ratio of 46.39 and a beta of 0.43. The firm has a 50-day simple moving average of $21.79 and a 200-day simple moving average of $22.58.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a net margin of 0.53% and a return on equity of 4.19%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Equities analysts forecast that JinkoSolar will post -0.42 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.50 per share. This represents a yield of 15.6%. The ex-dividend date was Thursday, August 15th. JinkoSolar’s dividend payout ratio (DPR) is currently 501.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, Roth Mkm decreased their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, JinkoSolar currently has an average rating of “Hold” and a consensus price target of $24.60.

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.