JinkoSolar (NYSE:JKS) Trading 5.6% Higher – Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price was up 5.6% during mid-day trading on Monday . The stock traded as high as $23.33 and last traded at $23.01. Approximately 74,891 shares were traded during trading, a decline of 93% from the average daily volume of 1,019,176 shares. The stock had previously closed at $21.80.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. 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. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.79.

JinkoSolar Trading Down 0.8 %

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.23 billion, a PE ratio of 39.20 and a beta of 0.40. The business has a 50 day moving average price of $22.18 and a 200-day moving average price of $23.02.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently bought and sold shares of JKS. SG Americas Securities LLC acquired a new stake in shares of JinkoSolar in the 4th quarter worth approximately $1,435,000. State Street Corp increased 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 buying an additional 67,223 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of JinkoSolar during the 4th quarter worth $752,000. Verition Fund Management LLC purchased a new stake in shares of JinkoSolar in the 3rd quarter worth about $682,000. Finally, Geode Capital Management LLC increased its holdings in JinkoSolar by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock valued at $1,197,000 after acquiring an additional 7,333 shares in the last quarter. Institutional investors and hedge funds 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.