JinkoSolar (NYSE:JKS) Raised to Hold at Wall Street Zen

JinkoSolar (NYSE:JKS) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of JinkoSolar from $15.00 to $18.00 and gave the company a “sell” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Strong Sell” and a consensus price target of $28.99.

JinkoSolar Stock Performance

JinkoSolar stock opened at $22.04 on Friday. The business has a 50 day moving average of $23.76 and a 200-day moving average of $20.99. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $29.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The company has a market capitalization of $1.14 billion, a P/E ratio of -4.39 and a beta of 0.44.

Institutional Trading of JinkoSolar

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of JinkoSolar by 8.9% in the 1st quarter. SG Americas Securities LLC now owns 62,745 shares of the semiconductor company’s stock worth $1,170,000 after purchasing an additional 5,110 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of JinkoSolar in the 1st quarter worth $2,349,000. Banque Cantonale Vaudoise bought a new position in shares of JinkoSolar in the 1st quarter worth $36,000. Charles Schwab Investment Management Inc. bought a new position in shares of JinkoSolar in the 1st quarter worth $1,660,000. Finally, Invesco Ltd. lifted its holdings in shares of JinkoSolar by 15.3% in the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company’s stock worth $26,439,000 after purchasing an additional 187,930 shares in 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.