JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives $31.33 Average Target Price from Analysts

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have earned a consensus rating of “Reduce” from the seven analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.33.

Several research firms have recently issued reports on JKS. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th.

JinkoSolar Trading Down 9.6 %

Shares of JKS stock opened at $21.29 on Wednesday. The firm’s 50-day simple moving average is $24.54 and its 200-day simple moving average is $22.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $37.36. The firm has a market cap of $1.13 billion, a P/E ratio of 36.09 and a beta of 0.30.

Hedge Funds Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its position in JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after acquiring an additional 44,661 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares in the last quarter. State Street Corp grew its holdings in shares of JinkoSolar by 10.7% in 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 last quarter. Marshall Wace LLP increased its position in shares of JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares in the last quarter. Finally, Decade Renewable Partners LP bought a new position in JinkoSolar during the 2nd quarter valued at about $4,272,000. 35.82% of the stock is owned by 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.