JinkoSolar (NYSE:JKS) Shares Up 3.5% – Time to Buy?

JinkoSolar Holding Company Limited (NYSE:JKS) was up 3.5% during mid-day trading on Friday . The company traded as high as $24.67 and last traded at $24.57. Approximately 171,116 shares changed hands during trading, a decline of 74% from the average daily volume of 661,114 shares. The stock had previously closed at $23.73.

Analyst Ratings Changes

A number of research firms have recently weighed in on JKS. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Zacks Research cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Roth Mkm raised their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 21st. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $22.33.

JinkoSolar Stock Down 0.1%

The firm’s 50 day simple moving average is $26.56 and its 200-day simple moving average is $25.84. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -2.59 and a beta of 0.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JKS. Trexquant Investment LP lifted its holdings in JinkoSolar by 2.1% during the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock valued at $1,094,000 after purchasing an additional 889 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of JinkoSolar by 5.3% during the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock worth $448,000 after buying an additional 937 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of JinkoSolar by 7.7% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock worth $440,000 after buying an additional 1,219 shares during the period. Raymond James Financial Inc. bought a new stake in shares of JinkoSolar during the 2nd quarter worth about $47,000. Finally, Banque Cantonale Vaudoise acquired a new position in JinkoSolar in the 4th quarter valued at about $58,000. 35.82% of the stock is currently owned by institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.