JinkoSolar (NYSE:JKS) Trading Up 7.1% – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group upped their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.33.

JinkoSolar Price Performance

The company has a market capitalization of $1.49 billion, a P/E ratio of 47.61 and a beta of 0.30. 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’s fifty day moving average price is $24.74 and its 200 day moving average price is $22.35.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares in the last quarter. Barclays PLC raised 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 buying an additional 537 shares during the last quarter. Headlands Technologies LLC raised its holdings 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 worth $84,000 after acquiring an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in 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 purchasing an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings 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 in the last quarter. 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.