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 trading on Tuesday . The company traded as low as $23.15 and last traded at $23.15. 389,786 shares were traded during mid-day trading, a decline of 50% from the average session volume of 775,656 shares. The stock had previously closed at $24.59.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JKS shares. Jefferies Financial Group increased their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Two investment 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 presently has a consensus rating of “Hold” and a consensus target price of $31.33.

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 stock has a market capitalization of $1.25 billion, a P/E ratio of 40.00 and a beta of 0.30. The stock’s fifty day moving average is $24.60 and its 200-day moving average is $22.54.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its holdings in JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares during the last quarter. Barclays PLC raised its position in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of JinkoSolar by 198.1% in the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after buying an additional 5,265 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during the period. Finally, Profund Advisors LLC grew its stake in JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 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.