JinkoSolar (NYSE:JKS) Shares Up 9.6% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shot up 9.6% during trading on Monday . The company traded as high as $29.67 and last traded at $29.44. 955,262 shares traded 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.

Wall Street Analyst Weigh In

JKS has been the subject of a number of recent research reports. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group cut 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. 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, December 5th. Finally, Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Price Performance

The stock has a market capitalization of $1.53 billion, a PE ratio of 48.75 and a beta of 0.35. 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’s fifty day simple moving average is $23.96 and its two-hundred day simple moving average is $22.40.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of JinkoSolar by 108.0% in the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares during the last quarter. Barclays PLC lifted its position 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 buying an additional 537 shares in the last quarter. Headlands Technologies LLC lifted its position in 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 buying an additional 3,476 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in JinkoSolar by 198.1% during the third 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 in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in 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 buying an additional 1,200 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.