JinkoSolar (NYSE:JKS) Trading 9.6% Higher – Should You Buy?

by · The Markets Daily

JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) shares traded up 9.6% during trading on Monday . The stock traded as high as $29.67 and last traded at $29.44. 955,262 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 1,078,526 shares. The stock had previously closed at $26.85.

Analysts Set New Price Targets

Several research analysts recently weighed in on JKS shares. Roth Mkm dropped their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group lowered their price objective on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group increased their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, JinkoSolar currently has an average rating of “Hold” and an average price target of $31.33.

Read Our Latest Stock Analysis on JKS

JinkoSolar Stock Up 7.3 %

The stock has a 50 day moving average price of $23.86 and a 200 day moving average price of $22.37. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 49.90 and a beta of 0.35.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently modified their holdings of JKS. Barclays PLC grew its stake in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 537 shares during the period. Signaturefd LLC increased its position in shares of JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares during the period. Daiwa Securities Group Inc. raised its position in shares of JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after purchasing an additional 1,200 shares during the period. Finally, Green Alpha Advisors LLC raised its holdings in JinkoSolar by 2.1% during the 3rd quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock valued at $1,919,000 after acquiring an additional 1,497 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

(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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