JinkoSolar Holding Co., Ltd. (NYSE:JKS) Short Interest Down 5.6% in October

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 4,530,000 shares, a drop 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 short-interest ratio is currently 3.7 days.

JinkoSolar Trading Up 4.9 %

JinkoSolar stock traded up $1.23 during trading on Thursday, hitting $26.58. The company’s stock had a trading volume of 1,676,400 shares, compared to its average volume of 1,052,364. The stock’s fifty day moving average is $21.45 and its 200 day moving average is $22.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.65. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 4.22 and a beta of 0.43.

JinkoSolar (NYSE:JKS) last released 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 1.65% and a return on equity of 7.86%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. As a group, equities research analysts predict that JinkoSolar will post -0.42 EPS for the current year.

JinkoSolar Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 15.6%. JinkoSolar’s payout ratio is 46.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 1.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after purchasing an additional 44,661 shares during the period. GSA Capital Partners LLP lifted its position in JinkoSolar by 372.9% during the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after buying an additional 60,992 shares in the last quarter. Marshall Wace LLP grew its stake in JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares during the period. Millennium Management LLC increased its position in shares of JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after acquiring an additional 161,888 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of JinkoSolar by 16.0% in the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after acquiring an additional 2,939 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.