JinkoSolar (NYSE:JKS) Stock Price Up 4.4% – Time to Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded up 4.4% during trading on Tuesday . The company traded as high as $22.30 and last traded at $22.06. 109,274 shares changed hands during trading, a decline of 89% from the average session volume of 1,029,762 shares. The stock had previously closed at $21.12.

Analyst Ratings Changes

JKS has been the subject of several recent research reports. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Jefferies Financial Group lifted their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Glj Research cut their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and an average target price of $28.79.

JinkoSolar Price Performance

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 company has a fifty day moving average of $22.97 and a 200-day moving average of $22.74. The firm has a market cap of $1.21 billion, a P/E ratio of 38.49 and a beta of 0.40.

Institutional Trading of JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its holdings in JinkoSolar by 30.2% during the third 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. CoreCommodity Management LLC lifted its position in shares of JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after buying an additional 1,028 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of JinkoSolar by 15.8% in the third 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors 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.