Bank of New York Mellon Corp Purchases 29,459 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Bank of New York Mellon Corp lifted its stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 245.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,445 shares of the semiconductor company's stock after acquiring an additional 29,459 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of JinkoSolar worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in JinkoSolar during the fourth quarter valued at about $1,435,000. State Street Corp raised its stake in JinkoSolar by 10.7% during the 3rd 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 period. Verition Fund Management LLC purchased a new position in JinkoSolar during the third quarter valued at approximately $682,000. Geode Capital Management LLC boosted its position in shares of JinkoSolar by 19.7% in the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company's stock worth $1,197,000 after purchasing an additional 7,333 shares during the period. Finally, Barclays PLC increased its stake in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock worth $62,000 after purchasing an additional 537 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group upped 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. Glj Research cut their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a research report on Thursday, January 23rd. Finally, Daiwa Capital Markets cut JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $28.49.

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JinkoSolar Price Performance

NYSE:JKS traded down $0.35 during trading hours on Thursday, reaching $20.19. The stock had a trading volume of 257,454 shares, compared to its average volume of 1,018,346. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The stock has a market capitalization of $1.07 billion, a PE ratio of 34.27 and a beta of 0.40. JinkoSolar Holding Co., Ltd. has a 52 week low of $16.70 and a 52 week high of $37.36. The company has a 50 day moving average price of $21.85 and a two-hundred day moving average price of $23.15.

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.