JinkoSolar (NYSE:JKS) Trading Down 5.9% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price traded down 5.9% on Tuesday . The stock traded as low as $23.15 and last traded at $23.15. 389,786 shares traded hands during trading, a decline of 50% from the average session volume of 775,656 shares. The stock had previously closed at $24.59.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Jefferies Financial Group increased their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $31.33.

JinkoSolar Trading Down 0.3 %

The firm’s 50 day simple moving average is $24.60 and its two-hundred day simple moving average is $22.54. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.25 billion, a P/E ratio of 40.00 and a beta of 0.30.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently made changes to their positions in JKS. Barclays PLC boosted its holdings 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 acquiring an additional 537 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of JinkoSolar by 108.0% in the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 647 shares during the period. Profund Advisors LLC boosted its stake in JinkoSolar by 8.5% during the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its holdings in JinkoSolar by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock valued at $1,919,000 after acquiring an additional 1,497 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.