JinkoSolar (NYSE:JKS) Shares Up 4.8%

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price traded up 4.8% on Wednesday . The stock traded as high as $23.63 and last traded at $23.60. 184,566 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 934,610 shares. The stock had previously closed at $22.51.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on JKS shares. Roth Mkm reaffirmed a “neutral” rating and set a $25.00 target price (down from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. HSBC reiterated a “hold” rating and issued a $30.00 target price on shares of JinkoSolar in a report on Monday, February 5th. The Goldman Sachs Group dropped their price target on shares of JinkoSolar from $30.00 to $26.00 and set a “sell” rating on the stock in a research report on Thursday, March 21st. Daiwa Capital Markets cut shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Monday, February 5th. Finally, Roth Capital cut shares of JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.20.

JinkoSolar Trading Up 1.8 %

The firm’s 50 day simple moving average is $26.51 and its two-hundred day simple moving average is $29.89. The stock has a market capitalization of $1.30 billion, a P/E ratio of 3.21 and a beta of 0.38. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of JinkoSolar by 1,240.7% during the first quarter. JPMorgan Chase & Co. now owns 100,456 shares of the semiconductor company’s stock valued at $4,851,000 after acquiring an additional 92,963 shares during the last quarter. American Century Companies Inc. boosted its holdings in JinkoSolar by 8.0% in the 1st quarter. American Century Companies Inc. now owns 13,426 shares of the semiconductor company’s stock valued at $648,000 after purchasing an additional 991 shares during the period. BlackRock Inc. raised its holdings in shares of JinkoSolar by 16.2% in the 1st quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock valued at $127,123,000 after acquiring an additional 366,251 shares in the last quarter. Cibc World Market Inc. bought a new stake in JinkoSolar during the first quarter valued at approximately $221,000. Finally, Allianz Asset Management GmbH grew its position in JinkoSolar by 1.0% in the first quarter. Allianz Asset Management GmbH now owns 1,131,353 shares of the semiconductor company’s stock worth $54,633,000 after acquiring an additional 11,700 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

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; and develops commercial solar power projects.