JinkoSolar (NYSE:JKS) Trading Up 7.1% – Still a Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) shot up 7.1% on Tuesday . The company traded as high as $28.56 and last traded at $28.20. 178,852 shares were traded during trading, a decline of 64% from the average session volume of 498,713 shares. The stock had previously closed at $26.34.

Analyst Ratings Changes

JKS has been the topic of several recent analyst reports. Jefferies Financial Group upped 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, December 5th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.33.

JinkoSolar Stock Down 6.5 %

The stock’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $22.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 44.24 and a beta of 0.30.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings 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 period. Barclays PLC grew its holdings in 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 buying an additional 537 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of JinkoSolar by 607.7% during 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 during the period. Banque Cantonale Vaudoise increased its stake in JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 5,265 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake 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 valued at $236,000 after acquiring an additional 1,200 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

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.