JinkoSolar (NYSE:JKS) Stock Price Down 5.9% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price fell 5.9% during mid-day trading on Tuesday . The company traded as low as $23.15 and last traded at $23.15. 389,786 shares changed hands during trading, a decline of 50% from the average session volume of 775,656 shares. The stock had previously closed at $24.59.

Analysts Set New Price Targets

A number of brokerages have issued reports on JKS. Jefferies Financial Group boosted their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.33.

JinkoSolar Trading Down 4.1 %

The stock has a market cap of $1.25 billion, a P/E ratio of 39.97 and a beta of 0.30. 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 stock’s fifty day moving average price is $24.70 and its 200 day moving average price is $22.51.

Institutional Trading of JinkoSolar

A number of hedge funds have recently modified their holdings of JKS. Signaturefd LLC boosted its holdings in shares of JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 647 shares in the last quarter. Barclays PLC boosted its stake 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 purchasing an additional 537 shares in the last quarter. Headlands Technologies LLC boosted its stake in JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in JinkoSolar by 198.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 5,265 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.