JinkoSolar (NYSE:JKS) Trading Down 3.6% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price fell 3.6% during mid-day trading on Monday . The stock traded as low as $21.90 and last traded at $21.75. 127,252 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,010,633 shares. The stock had previously closed at $22.57.

Analyst Upgrades and Downgrades

JKS has been the topic of several recent research reports. Glj Research decreased their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, Jefferies Financial Group upped their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, JinkoSolar has an average rating of “Hold” and a consensus price target of $28.49.

JinkoSolar Trading Down 1.9 %

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 company has a market capitalization of $1.10 billion, a PE ratio of 35.03 and a beta of 0.40. The stock’s 50 day moving average is $21.91 and its two-hundred day moving average is $23.17.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co acquired a new position in JinkoSolar during the 4th quarter valued at about $55,000. Barclays PLC boosted its holdings in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of JinkoSolar during the 4th quarter valued at about $119,000. New York State Common Retirement Fund acquired a new stake in JinkoSolar in the 4th quarter valued at $132,000. Finally, Jump Financial LLC purchased a new stake in shares of JinkoSolar during the fourth quarter worth about $200,000. 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.