JinkoSolar (NYSE:JKS) Shares Down 5.5% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares were down 5.5% during trading on Wednesday . The company traded as low as $27.10 and last traded at $27.19. Approximately 601,870 shares changed hands during trading, a decline of 44% from the average daily volume of 1,082,725 shares. The stock had previously closed at $28.78.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JKS shares. Jefferies Financial Group lifted their target price on 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 cut their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Roth Mkm cut their target price 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 analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, JinkoSolar currently has a consensus rating of “Hold” and an average target price of $31.33.

JinkoSolar Price Performance

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 has a 50-day simple moving average of $23.96 and a 200-day simple moving average of $22.40. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 48.75 and a beta of 0.35.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of JinkoSolar during the 3rd quarter worth approximately $928,000. State Street Corp lifted its stake in shares of JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of JinkoSolar during the 3rd quarter worth $682,000. Hedge funds and other 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.