JinkoSolar (NYSE:JKS) Shares Down 3.6% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price fell 3.6% on Monday . The stock traded as low as $21.90 and last traded at $21.75. 127,252 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,010,633 shares. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

Several research firms have recently commented on JKS. Glj Research reduced their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, JinkoSolar currently has an average rating of “Hold” and a consensus target price of $28.49.

JinkoSolar Price Performance

The stock has a fifty day simple moving average of $21.91 and a two-hundred day simple moving average of $23.17. The company has a market cap of $1.10 billion, a PE ratio of 35.03 and a beta of 0.40. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JKS. CANADA LIFE ASSURANCE Co purchased a new position in JinkoSolar during the fourth quarter worth $55,000. Barclays PLC raised its position in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 537 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of JinkoSolar during the fourth quarter valued at approximately $119,000. New York State Common Retirement Fund acquired a new stake in JinkoSolar during the fourth quarter worth approximately $132,000. Finally, Jump Financial LLC acquired a new position in JinkoSolar in the 4th quarter valued at $200,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.