JinkoSolar (NYSE:JKS) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $26.46, but opened at $25.85. JinkoSolar shares last traded at $25.82, with a volume of 241,514 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group decreased their price target on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. Finally, Roth Mkm decreased their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and a consensus price target of $24.60.

View Our Latest Report on JKS

JinkoSolar Trading Down 6.6 %

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $23.59 and a 200 day moving average of $22.37. The company has a market cap of $1.31 billion, a P/E ratio of 44.85 and a beta of 0.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Decade Renewable Partners LP bought a new position in JinkoSolar in the second quarter worth approximately $4,272,000. Millennium Management LLC boosted its holdings in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after acquiring an additional 161,888 shares in the last quarter. Marshall Wace LLP boosted its holdings in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Point72 Europe London LLP bought a new position in JinkoSolar in the second quarter worth approximately $3,023,000. Finally, Dimensional Fund Advisors LP boosted its holdings in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after acquiring an additional 74,219 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

(Get Free Report)

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.

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