JinkoSolar (NYSE:JKS) Trading 7.1% Higher – Should You Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was up 7.1% during trading on Tuesday . The company traded as high as $28.56 and last traded at $28.20. Approximately 178,852 shares were traded during trading, a decline of 64% from the average daily volume of 498,713 shares. The stock had previously closed at $26.34.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Trading Up 6.6 %

The company has a market capitalization of $1.49 billion, a PE ratio of 47.61 and a beta of 0.30. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $24.74 and its two-hundred day moving average price is $22.35.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares in the last quarter. Geode Capital Management LLC lifted its position in JinkoSolar by 19.7% during the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock valued at $1,197,000 after buying an additional 7,333 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of JinkoSolar during the 3rd quarter valued at $928,000. State Street Corp grew its position in shares of JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after buying an additional 67,223 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of JinkoSolar in the 3rd quarter worth about $682,000. 35.82% of the stock is 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.