JinkoSolar Holding Company Limited (NYSE:JKS) Short Interest Up 23.1% in February

JinkoSolar Holding Company Limited (NYSE:JKS) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 2,672,347 shares, a growth of 23.1% from the January 29th total of 2,170,650 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily volume of 775,438 shares, the short-interest ratio is currently 3.4 days. Based on an average daily volume of 775,438 shares, the short-interest ratio is currently 3.4 days. Currently, 6.5% of the shares of the company are sold short.

JinkoSolar Trading Down 0.5%

Shares of NYSE:JKS opened at $24.00 on Thursday. The business’s 50 day moving average price is $27.10 and its 200-day moving average price is $25.73. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $31.88. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.62 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JKS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in JinkoSolar by 18.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after buying an additional 3,608 shares during the last quarter. Geode Capital Management LLC raised its position in shares of JinkoSolar by 9.9% in the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after buying an additional 3,394 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of JinkoSolar during the 2nd quarter worth about $28,000. JPMorgan Chase & Co. raised its holdings in JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 10,941 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of JinkoSolar during the second quarter worth $1,160,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on JKS shares. Roth Mkm increased their price target on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Zacks Research downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Finally, The Goldman Sachs Group lifted their target price on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $22.33.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.