JinkoSolar (NYSE:JKS) Shares Gap Up – Should You Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up before the market opened on Wednesday . The stock had previously closed at $23.25, but opened at $23.89. JinkoSolar shares last traded at $23.73, with a volume of 58,767 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Glj Research lowered their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group increased their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $28.79.

JinkoSolar Price Performance

The company has a market capitalization of $1.27 billion, a P/E ratio of 40.24 and a beta of 0.40. The company’s 50-day moving average price is $22.18 and its two-hundred day moving average price is $23.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Hedge Funds Weigh In On JinkoSolar

Several large investors have recently modified their holdings of JKS. CANADA LIFE ASSURANCE Co bought a new position in shares of JinkoSolar in the fourth quarter valued at about $55,000. Barclays PLC increased its position in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares during the period. SBI Securities Co. Ltd. bought a new position in JinkoSolar during the fourth quarter worth about $119,000. New York State Common Retirement Fund bought a new position in JinkoSolar during the fourth quarter worth about $132,000. Finally, Jump Financial LLC bought a new position in JinkoSolar during the fourth quarter worth about $200,000. 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.