JinkoSolar (NYSE:JKS) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.35 and traded as high as $27.08. JinkoSolar shares last traded at $25.47, with a volume of 687,814 shares changing hands.

Analyst Ratings Changes

JKS has been the topic of a number of research analyst reports. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Jefferies Financial Group boosted their price objective on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Roth Mkm reduced their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group cut their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. One 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 data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Trading Down 0.9 %

The business’s 50-day moving average price is $23.92 and its 200-day moving average price is $22.37. The firm has a market capitalization of $1.27 billion, a PE ratio of 40.34 and a beta of 0.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its position in JinkoSolar by 30.2% in the 3rd 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. Geode Capital Management LLC boosted its position in shares of JinkoSolar by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock worth $1,197,000 after purchasing an additional 7,333 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in JinkoSolar during the third quarter worth about $928,000. State Street Corp increased its holdings in JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after buying an additional 67,223 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of JinkoSolar during the 3rd quarter valued at approximately $682,000. 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.