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

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JKS. Jefferies Financial Group raised their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Trading Down 9.6 %

NYSE:JKS traded down $2.25 during trading hours on Friday, reaching $21.29. 1,552,875 shares of the company were exchanged, compared to its average volume of 745,983. 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 firm has a market cap of $1.13 billion, a price-to-earnings ratio of 36.09 and a beta of 0.30. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The stock has a 50 day simple moving average of $24.54 and a 200 day simple moving average of $22.56.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after acquiring an additional 74,219 shares during the period. Profund Advisors LLC raised its stake in shares of JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 960 shares during the period. Marshall Wace LLP raised its stake in shares of JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after acquiring an additional 148,268 shares during the period. Point72 Europe London LLP purchased a new position in shares of JinkoSolar in the 2nd quarter valued at $3,023,000. Finally, Decade Renewable Partners LP purchased a new position in shares of JinkoSolar in the 2nd quarter valued at $4,272,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.