JinkoSolar (NYSE:JKS) Stock Price Down 5.5% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price was down 5.5% on Wednesday . The stock traded as low as $27.10 and last traded at $27.19. Approximately 601,870 shares were traded during trading, a decline of 44% from the average daily volume of 1,082,725 shares. The stock had previously closed at $28.78.

Analyst Ratings Changes

A number of research firms have recently issued reports on JKS. Roth Mkm lowered their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. 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 report on Thursday, December 5th. The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average price target of $31.33.

JinkoSolar Trading Up 0.8 %

The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 46.63 and a beta of 0.35. The business’s 50 day moving average price is $24.03 and its 200-day moving average price is $22.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JKS. Barclays PLC boosted its stake in 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 during the period. Signaturefd LLC boosted its position in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 647 shares during the period. Profund Advisors LLC grew its stake in JinkoSolar by 8.5% during the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after buying an additional 960 shares during the last quarter. Daiwa Securities Group Inc. increased its position in JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during the period. Finally, Green Alpha Advisors LLC lifted its stake in JinkoSolar by 2.1% in the third quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock valued at $1,919,000 after buying an additional 1,497 shares during the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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.