JinkoSolar (NYSE:JKS) Shares Up 4.8%

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price traded up 4.8% during mid-day trading on Wednesday . The company traded as high as $23.63 and last traded at $23.60. 184,566 shares traded hands during trading, a decline of 80% from the average session volume of 934,610 shares. The stock had previously closed at $22.51.

Analyst Ratings Changes

JKS has been the subject of several research reports. Roth Capital lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Daiwa Capital Markets downgraded JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Monday, February 5th. Roth Mkm restated a “neutral” rating and issued a $25.00 target price (down from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. HSBC reaffirmed a “hold” rating and set a $30.00 target price on shares of JinkoSolar in a report on Monday, February 5th. Finally, UBS Group dropped their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, JinkoSolar presently has an average rating of “Hold” and a consensus target price of $27.20.

JinkoSolar Trading Up 1.8 %

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 3.21 and a beta of 0.38. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $26.51 and a 200 day moving average price of $29.89.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of JKS. Morgan Stanley boosted its holdings in shares of JinkoSolar by 65.7% during the third quarter. Morgan Stanley now owns 2,026,002 shares of the semiconductor company’s stock worth $61,530,000 after purchasing an additional 803,164 shares during the period. Marshall Wace LLP boosted its stake in shares of JinkoSolar by 116.9% during the 2nd quarter. Marshall Wace LLP now owns 1,036,954 shares of the semiconductor company’s stock valued at $46,020,000 after buying an additional 558,962 shares during the period. Mackenzie Financial Corp grew its holdings in shares of JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after acquiring an additional 493,976 shares in the last quarter. BlackRock Inc. increased its stake in shares of JinkoSolar by 16.2% in the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock worth $127,123,000 after acquiring an additional 366,251 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of JinkoSolar by 116.3% during the second quarter. Goldman Sachs Group Inc. now owns 656,938 shares of the semiconductor company’s stock worth $45,447,000 after acquiring an additional 353,154 shares in 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; and develops commercial solar power projects.