JinkoSolar (NYSE:JKS) Trading Down 3.7% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price fell 3.7% on Thursday . The company traded as low as $24.50 and last traded at $24.52. 100,665 shares were traded during trading, a decline of 91% from the average session volume of 1,081,548 shares. The stock had previously closed at $25.47.

Analyst Upgrades and Downgrades

JKS has been the topic of several analyst reports. Jefferies Financial Group increased their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Roth Mkm reduced their price objective on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average target price of $31.33.

JinkoSolar Price Performance

The company’s 50 day moving average price is $23.90 and its 200 day moving average price is $22.35. 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 company has a market cap of $1.28 billion, a price-to-earnings ratio of 40.87 and a beta of 0.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its position in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after buying an additional 647 shares in the last quarter. Barclays PLC grew its stake in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,476 shares in the last quarter. Banque Cantonale Vaudoise raised its position in JinkoSolar by 198.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted 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 buying an additional 1,200 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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.