JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,000,000 shares, a growth of 10.4% from the October 15th total of 4,530,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 3.2 days.
Institutional Trading of JinkoSolar
A number of institutional investors have recently modified their holdings of JKS. Vanguard Group Inc. boosted its holdings in JinkoSolar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock worth $40,080,000 after acquiring an additional 14,491 shares during the period. Tidal Investments LLC boosted its holdings in JinkoSolar by 4.0% in the 1st quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock worth $545,000 after acquiring an additional 825 shares during the period. Boston Partners purchased a new position in JinkoSolar in the 1st quarter worth approximately $575,000. SG Americas Securities LLC boosted its holdings in JinkoSolar by 16.0% in the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 2,939 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in JinkoSolar by 43.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after acquiring an additional 3,521 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on JKS. The Goldman Sachs Group cut their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm dropped their price objective 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. Finally, StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.60.
JinkoSolar Trading Up 1.2 %
Shares of NYSE JKS traded up $0.25 on Monday, reaching $21.16. 704,630 shares of the company traded hands, compared to its average volume of 1,074,116. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week high of $38.37. The stock has a market capitalization of $1.12 billion, a PE ratio of 35.86 and a beta of 0.44. The company has a 50 day moving average of $22.93 and a 200 day moving average of $22.58.
JinkoSolar (NYSE:JKS – Get Free Report) last issued its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. On average, equities research analysts forecast that JinkoSolar will post -0.42 earnings per share for the current fiscal year.
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.
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