JinkoSolar (NYSE:JKS) Trading Up 4.4% – Time to Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded up 4.4% on Tuesday . The company traded as high as $22.30 and last traded at $22.06. 109,274 shares traded hands during trading, a decline of 89% from the average session volume of 1,029,762 shares. The stock had previously closed at $21.12.

Analyst Ratings Changes

JKS has been the subject of several recent research reports. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Jefferies Financial Group boosted their target price 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. Finally, Glj Research lowered their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $28.79.

JinkoSolar Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a market cap of $1.21 billion, a P/E ratio of 38.49 and a beta of 0.40. The company’s 50-day moving average is $22.97 and its two-hundred day moving average is $22.74.

Institutional Trading of JinkoSolar

Several large investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA acquired a new stake in shares of JinkoSolar in the 4th quarter valued at $5,948,000. Balyasny Asset Management L.P. boosted its stake in JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after buying an additional 121,740 shares in the last quarter. Millennium Management LLC bought a new position in JinkoSolar in the fourth quarter valued at about $2,846,000. AI Squared Management Ltd acquired a new position in JinkoSolar during the fourth quarter worth about $2,336,000. Finally, State Street Corp lifted its holdings in shares of JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after acquiring an additional 67,223 shares during the last quarter. Institutional investors and hedge funds 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.