JinkoSolar (NYSE:JKS) Trading Up 7.1% – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price was up 7.1% during trading on Tuesday . The company traded as high as $28.56 and last traded at $28.20. Approximately 178,852 shares were traded during trading, a decline of 64% from the average daily volume of 498,713 shares. The stock had previously closed at $26.34.

Analysts Set New Price Targets

JKS has been the subject of a number of analyst reports. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Price Performance

The company has a 50-day moving average of $24.83 and a two-hundred day moving average of $22.41. 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 stock has a market capitalization of $1.39 billion, a PE ratio of 44.24 and a beta of 0.30.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of JKS. Signaturefd LLC grew its holdings in shares of JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares during the period. Barclays PLC increased 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 worth $62,000 after acquiring an additional 537 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 3,476 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 5,265 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares during the period. 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.