JinkoSolar (NYSE:JKS) Shares Cross Above 200 Day Moving Average – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.52 and traded as high as $23.06. JinkoSolar shares last traded at $22.60, with a volume of 786,950 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on JKS. Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group increased their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, JinkoSolar currently has a consensus rating of “Hold” and a consensus target price of $28.79.

JinkoSolar Trading Down 1.5 %

The stock has a market cap of $1.20 billion, a P/E ratio of 38.30 and a beta of 0.27. The company has a 50-day moving average price of $23.55 and a two-hundred day moving average price of $22.52. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA bought a new stake in shares of JinkoSolar in the fourth quarter valued at about $5,948,000. Balyasny Asset Management L.P. increased its position in JinkoSolar by 1,592.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after purchasing an additional 121,740 shares during the period. Millennium Management LLC bought a new stake in shares of JinkoSolar in the 4th quarter valued at about $2,846,000. AI Squared Management Ltd purchased a new position in JinkoSolar during the fourth quarter valued at approximately $2,336,000. Finally, State Street Corp raised its stake in 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 buying an additional 67,223 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

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.