JinkoSolar (NYSE:JKS) Stock Price Up 6.4% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares traded up 6.4% during trading on Tuesday . The stock traded as high as $20.66 and last traded at $20.96. 81,281 shares were traded during mid-day trading, a decline of 90% from the average session volume of 792,476 shares. The stock had previously closed at $19.70.

Analyst Upgrades and Downgrades

JKS has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Finally, Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and an average target price of $28.42.

JinkoSolar Price Performance

The business has a fifty day moving average of $24.30 and a 200-day moving average of $22.44. 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 market capitalization of $1.11 billion, a P/E ratio of 35.22 and a beta of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares during the last quarter. Barclays PLC lifted its stake in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 537 shares during the period. New York State Common Retirement Fund bought a new position in shares of JinkoSolar in the 4th quarter valued at about $132,000. Banque Cantonale Vaudoise raised its position in shares of JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during 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.