JinkoSolar (NYSE:JKS) Hits New 52-Week High – Still a Buy?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week high during trading on Monday . The company traded as high as $31.00 and last traded at $29.9440, with a volume of 692125 shares. The stock had previously closed at $27.04.

Analyst Ratings Changes

JKS has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research report on Wednesday, October 8th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, The Goldman Sachs Group upped their price objective on JinkoSolar from $15.00 to $18.00 and gave the stock a “sell” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $28.99.

JinkoSolar Trading Down 6.2%

The firm’s 50-day simple moving average is $24.91 and its 200-day simple moving average is $22.64. The firm has a market capitalization of $1.48 billion, a PE ratio of -5.72 and a beta of 0.60. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Institutional Trading of JinkoSolar

Several hedge funds and other institutional investors have recently bought and sold shares of JKS. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in shares of JinkoSolar by 37.0% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company’s stock worth $14,557,000 after purchasing an additional 211,000 shares during the period. Invesco Ltd. raised its position in JinkoSolar by 15.3% during the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company’s stock valued at $26,439,000 after purchasing an additional 187,930 shares during the last quarter. Acadian Asset Management LLC raised its position in JinkoSolar by 41.2% during the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock valued at $7,220,000 after purchasing an additional 113,187 shares during the last quarter. Progeny 3 Inc. purchased a new stake in JinkoSolar in the 3rd quarter worth approximately $2,341,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of JinkoSolar in the 1st quarter worth approximately $1,660,000. 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.