JinkoSolar (NYSE:JKS) Trading Down 3.7% – Here’s What Happened

by · The Markets Daily

JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) shares were down 3.7% during mid-day trading on Thursday . The stock traded as low as $24.50 and last traded at $24.52. Approximately 100,665 shares changed hands during trading, a decline of 91% from the average daily volume of 1,081,548 shares. The stock had previously closed at $25.47.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JKS. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Jefferies Financial Group increased their price objective 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. The Goldman Sachs Group decreased their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, September 3rd. Finally, Roth Mkm reduced 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.33.

View Our Latest Stock Report on JKS

JinkoSolar Trading Down 0.9 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 40.34 and a beta of 0.35. The company has a fifty day moving average price of $23.92 and a 200-day moving average price of $22.37. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of JKS. Barclays PLC grew its holdings in 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. Geode Capital Management LLC lifted its position in JinkoSolar by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock worth $1,197,000 after acquiring an additional 7,333 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in JinkoSolar in the 3rd quarter worth approximately $928,000. State Street Corp increased its holdings in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after buying an additional 67,223 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in JinkoSolar during the third quarter valued at approximately $682,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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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