Capital Fund Management S.A. Buys New Stake in JinkoSolar Holding Co. (JKS)
Capital Fund Management S.A. purchased a new position in shares of JinkoSolar Holding Co. (NYSE:JKS) during the second quarter, Holdings Channel reports. The firm purchased 18,758 shares of the company’s stock, valued at approximately $382,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of JinkoSolar Holding during the second quarter worth about $132,000. Guinness Asset Management Ltd raised its position in shares of JinkoSolar Holding by 13.4% in the second quarter. Guinness Asset Management Ltd now owns 8,490 shares of the company’s stock worth $173,000 after buying an additional 1,000 shares during the last quarter. BlackRock Group LTD raised its position in shares of JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock worth $1,617,000 after buying an additional 9,255 shares during the last quarter. BlackRock Inc. raised its position in shares of JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock worth $173,000 after buying an additional 4,806 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of JinkoSolar Holding by 56.0% in the first quarter. Prudential Financial Inc. now owns 154,400 shares of the company’s stock worth $3,229,000 after buying an additional 55,400 shares during the last quarter. Institutional investors and hedge funds own 19.67% of the company’s stock.
Shares of JinkoSolar Holding Co. (NYSE:JKS) traded down 0.24% during trading on Friday, reaching $16.40. 398,975 shares of the company traded hands. The firm’s 50-day moving average is $16.69 and its 200-day moving average is $19.48. The stock has a market capitalization of $516.45 million, a PE ratio of 3.10 and a beta of 3.36. JinkoSolar Holding Co. has a 12-month low of $14.32 and a 12-month high of $29.50.
A number of research analysts have issued reports on JKS shares. Zacks Investment Research upgraded shares of JinkoSolar Holding from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Roth Capital downgraded shares of JinkoSolar Holding from a “buy” rating to a “neutral” rating and upped their price target for the stock from $18.00 to $30.00 in a report on Friday, August 5th. Credit Suisse Group AG cut their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Finally, Morgan Stanley set a $27.20 price target on shares of JinkoSolar Holding and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. JinkoSolar Holding currently has a consensus rating of “Buy” and an average price target of $29.28.
JinkoSolar Holding Company Profile
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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