JinkoSolar (NYSE:JKS) Shares Up 5.7% – Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price rose 5.7% on Monday . The stock traded as high as $25.28 and last traded at $25.16. Approximately 406,377 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 1,084,890 shares. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

JKS has been the topic of a number of recent analyst reports. Roth Mkm lowered their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group raised their price target on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group cut their price objective on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Trading Up 5.3 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm has a 50-day moving average of $24.06 and a 200-day moving average of $22.26. The firm has a market capitalization of $1.41 billion, a P/E ratio of 45.03 and a beta of 0.35.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in shares of JinkoSolar by 607.7% during the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares during the period. Dimensional Fund Advisors LP raised its position in JinkoSolar by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares during the last quarter. Profund Advisors LLC lifted its holdings in JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after buying an additional 960 shares during the period. Marshall Wace LLP increased its stake in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 shares during the period. Finally, Point72 Europe London LLP purchased a new position in JinkoSolar during the 2nd quarter valued at $3,023,000. 35.82% of the stock is currently owned by 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.