JinkoSolar (NYSE:JKS) Trading 6.4% Higher – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was up 6.4% during mid-day trading on Tuesday . The company traded as high as $20.66 and last traded at $20.96. Approximately 81,281 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 792,476 shares. The stock had previously closed at $19.70.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JKS. Jefferies Financial Group boosted 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. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Finally, Glj Research reduced their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average price target of $28.79.

JinkoSolar Price Performance

The firm has a market cap of $1.14 billion, a PE ratio of 36.23 and a beta of 0.27. The stock has a 50 day simple moving average of $24.24 and a two-hundred day simple moving average of $22.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of JKS. Barclays PLC raised its stake in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares during the period. Signaturefd LLC raised its position in JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares during the period. Daiwa Securities Group Inc. lifted its holdings in JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after purchasing an additional 1,200 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of JinkoSolar during the fourth quarter worth about $119,000. Finally, Banque Cantonale Vaudoise raised its position in shares of JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 5,265 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.