Short Interest in JinkoSolar Holding Co., Ltd. (NYSE:JKS) Declines By 15.6%

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,440,000 shares, a decrease of 15.6% from the February 28th total of 5,260,000 shares. Based on an average daily volume of 769,200 shares, the short-interest ratio is currently 5.8 days. Approximately 10.4% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts have issued reports on the company. Glj Research lowered their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research note on Thursday, January 23rd. Daiwa Capital Markets cut JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. The Goldman Sachs Group cut their target price on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday, March 27th. Finally, UBS Group lowered their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, JinkoSolar has an average rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Price Performance

Shares of JKS traded down $1.84 during midday trading on Friday, hitting $15.69. 2,295,644 shares of the company traded hands, compared to its average volume of 1,049,860. JinkoSolar has a one year low of $14.81 and a one year high of $37.36. The firm has a market cap of $834.00 million, a P/E ratio of 26.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The stock has a 50-day moving average of $21.47 and a 200-day moving average of $23.11.

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JinkoSolar (NYSE:JKS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company posted $0.54 EPS. The business's revenue was down 37.1% on a year-over-year basis. As a group, sell-side analysts predict that JinkoSolar will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Public Employees Retirement System of Ohio boosted its position in shares of JinkoSolar by 42.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company's stock valued at $1,229,000 after acquiring an additional 14,765 shares during the last quarter. Twinbeech Capital LP lifted its position in JinkoSolar by 219.9% during the fourth quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company's stock valued at $646,000 after purchasing an additional 17,846 shares during the last quarter. Millennium Management LLC purchased a new position in JinkoSolar in the 4th quarter worth approximately $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock worth $217,000 after buying an additional 3,998 shares during the last quarter. Finally, CoreCommodity Management LLC raised its position in shares of JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after buying an additional 640 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.