JinkoSolar (NYSE:JKS) Trading Up 5.6% – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares traded up 5.6% during mid-day trading on Monday . The stock traded as high as $23.33 and last traded at $23.01. 74,891 shares were traded during trading, a decline of 93% from the average session volume of 1,019,176 shares. The stock had previously closed at $21.80.

Analyst Ratings Changes

JKS has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Finally, Glj Research cut their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $28.79.

JinkoSolar Stock Down 0.8 %

The business has a 50-day moving average of $22.18 and a 200-day moving average of $23.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 39.20 and a beta of 0.40.

Institutional Investors Weigh In On JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of JinkoSolar by 42.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company’s stock worth $1,229,000 after buying an additional 14,765 shares during the period. Twinbeech Capital LP boosted its stake in shares of JinkoSolar by 219.9% in the fourth quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 17,846 shares during the period. Millennium Management LLC acquired a new position in shares of JinkoSolar in the fourth quarter valued at approximately $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after buying an additional 3,998 shares during the period. Finally, CoreCommodity Management LLC lifted its holdings in JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.