Short Interest in JinkoSolar Holding Co., Ltd. (NYSE:JKS) Decreases By 14.1%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 4,830,000 shares, a decrease of 14.1% from the December 15th total of 5,620,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price objective on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.33.

JinkoSolar Stock Performance

Shares of NYSE:JKS traded down $2.25 during midday trading on Friday, reaching $21.29. The company had a trading volume of 1,552,875 shares, compared to its average volume of 745,983. The stock has a market cap of $1.13 billion, a P/E ratio of 36.09 and a beta of 0.30. The company’s 50 day moving average price is $24.54 and its 200 day moving average price is $22.56. 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 52-week low of $16.70 and a 52-week high of $37.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its stake in shares of JinkoSolar by 1.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after buying an additional 44,661 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after acquiring an additional 148,268 shares during the period. State Street Corp grew its position in shares of JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after purchasing an additional 67,223 shares in the last quarter. Millennium Management LLC raised its stake in shares of JinkoSolar by 2,305.1% during the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after purchasing an additional 161,888 shares during the period. Finally, Decade Renewable Partners LP purchased a new stake in JinkoSolar during the 2nd quarter worth about $4,272,000. 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.