JinkoSolar (NYSE:JKS) Trading Down 3.1% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price was down 3.1% on Thursday . The company traded as low as $25.56 and last traded at $25.74. Approximately 133,909 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,082,477 shares. The stock had previously closed at $26.57.

Analyst Ratings Changes

Several research firms recently weighed in on JKS. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Roth Mkm decreased their price objective on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group raised their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Trading Down 2.4 %

The business’s 50-day moving average price is $24.17 and its 200 day moving average price is $22.29. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 43.95 and a beta of 0.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Institutional Trading of JinkoSolar

A number of hedge funds and other institutional investors have recently made changes to their positions in JKS. Barclays PLC grew its position in shares of JinkoSolar by 30.2% in the 3rd 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. Signaturefd LLC boosted its holdings in JinkoSolar by 108.0% in the third 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. Profund Advisors LLC increased its stake in JinkoSolar by 8.5% during the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 960 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of JinkoSolar by 15.8% during the third 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. Finally, Green Alpha Advisors LLC lifted its position in shares of JinkoSolar by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock worth $1,919,000 after buying an additional 1,497 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

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.