JinkoSolar (NYSE:JKS) Shares Gap Up – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $24.70, but opened at $25.30. JinkoSolar shares last traded at $26.10, with a volume of 881,082 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. The Goldman Sachs Group cut their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd. Finally, Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Stock Performance

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average is $23.59 and its 200 day moving average is $22.37. The company has a market cap of $1.33 billion, a PE ratio of 41.81 and a beta of 0.35.

Institutional Investors Weigh In On JinkoSolar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares during the last quarter. Barclays PLC boosted its stake in JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares during the last quarter. Headlands Technologies LLC boosted its stake in JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.