JinkoSolar Holding Co., Ltd. (NYSE:JKS) Sees Large Increase in Short Interest

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 5,620,000 shares, an increase of 5.6% from the November 30th total of 5,320,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the short-interest ratio is currently 3.1 days.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently bought and sold shares of the business. Signaturefd LLC grew its stake in shares of JinkoSolar by 108.0% in the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 647 shares during the period. Barclays PLC grew its position in 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 purchasing an additional 537 shares during the period. Headlands Technologies LLC raised its stake in JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company's stock valued at $84,000 after buying an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company's stock valued at $212,000 after buying an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company's stock valued at $236,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JKS. Jefferies Financial Group upped their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. The Goldman Sachs Group reduced their price objective on JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a research report on Tuesday, September 3rd. StockNews.com raised JinkoSolar from a "sell" rating to a "hold" rating in a report on Wednesday, September 18th. Finally, Roth Mkm cut their target price on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $31.33.

JinkoSolar Stock Up 0.0 %

Shares of JinkoSolar stock traded up $0.01 on Wednesday, reaching $24.90. The company's stock had a trading volume of 488,659 shares, compared to its average volume of 1,077,640. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 42.20 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The firm's fifty day simple moving average is $24.55 and its two-hundred day simple moving average is $22.28.

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.