JinkoSolar (NYSE:JKS) Trading 6.4% Higher – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares traded up 6.4% during mid-day trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JKS shares. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Glj Research decreased their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group boosted their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.79.

JinkoSolar Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 36.23 and a beta of 0.27. The business’s 50 day moving average is $24.24 and its 200 day moving average is $22.43.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of JinkoSolar by 10.7% during the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares in the last quarter. Millennium Management LLC lifted its stake in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after buying an additional 161,888 shares during the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of JinkoSolar by 15.4% in the fourth quarter. Green Alpha Advisors LLC now owns 82,531 shares of the semiconductor company’s stock valued at $2,055,000 after acquiring an additional 10,983 shares during the period. SG Americas Securities LLC purchased a new position in shares of JinkoSolar during the fourth quarter worth approximately $1,435,000. Finally, Geode Capital Management LLC grew its position in shares of JinkoSolar by 19.7% during the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock worth $1,197,000 after acquiring an additional 7,333 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.