JinkoSolar (NYSE:JKS) Stock Price Down 5.9% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKSGet Free Report) shares fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $23.15 and last traded at $23.15. 389,786 shares were traded during trading, a decline of 50% from the average session volume of 775,656 shares. The stock had previously closed at $24.59.

Analysts Set New Price Targets

Several research firms have issued reports on JKS. Jefferies Financial Group upped their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.33.

View Our Latest Research Report on JinkoSolar

JinkoSolar Stock Down 4.1 %

The company’s fifty day moving average is $24.70 and its 200-day moving average is $22.51. The company has a market capitalization of $1.25 billion, a PE ratio of 39.97 and a beta of 0.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Headlands Technologies LLC boosted its stake in JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares during the period. Dimensional Fund Advisors LP lifted its position in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after buying an additional 74,219 shares during the last quarter. Profund Advisors LLC lifted its position in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after buying an additional 960 shares during the last quarter. Marshall Wace LLP lifted its position in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in JinkoSolar in the second quarter worth $3,023,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

About JinkoSolar

(Get Free Report)

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.

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