JinkoSolar (NYSE:JKS) Shares Gap Down – Should You Sell?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down prior to trading on Wednesday . The stock had previously closed at $26.46, but opened at $25.85. JinkoSolar shares last traded at $25.82, with a volume of 241,514 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. The Goldman Sachs Group dropped their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, Roth Mkm dropped their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, JinkoSolar presently has an average rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Stock Down 6.6 %

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 company has a market capitalization of $1.31 billion, a PE ratio of 44.85 and a beta of 0.35. The stock has a 50-day moving average of $23.59 and a 200 day moving average of $22.37.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp increased its position in shares of JinkoSolar by 1.8% during the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after acquiring an additional 44,661 shares during the last quarter. Vanguard Group Inc. increased its position in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock worth $40,080,000 after buying an additional 14,491 shares during the last quarter. Dimensional Fund Advisors LP increased its position in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after buying an additional 74,219 shares during the last quarter. State Street Corp increased its position in JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after buying an additional 67,223 shares during the last quarter. Finally, Marshall Wace LLP increased its position in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.