JinkoSolar (NYSE:JKS) Shares Up 5.7% - Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report)'s stock price was up 5.7% on Monday . The stock traded as high as $25.28 and last traded at $25.16. Approximately 406,377 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,084,890 shares. The stock had previously closed at $23.80.

Analysts Set New Price Targets

Several research firms have commented on JKS. The Goldman Sachs Group lowered their price target on shares of JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a report on Tuesday, September 3rd. StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. Jefferies Financial Group raised their price target on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Roth Mkm lowered their price objective on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.33.

JinkoSolar Stock Up 6.1 %

The firm's 50 day simple moving average is $23.92 and its 200-day simple moving average is $22.26. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 42.78 and a beta of 0.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Decade Renewable Partners LP purchased a new position in JinkoSolar during the 2nd quarter worth $4,272,000. Millennium Management LLC lifted its position in shares of JinkoSolar by 2,305.1% during the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company's stock valued at $3,500,000 after acquiring an additional 161,888 shares during the period. Marshall Wace LLP boosted its position in shares of JinkoSolar by 49.5% in the 2nd 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 in the last quarter. Point72 Europe London LLP acquired a new stake in JinkoSolar during the 2nd quarter valued at $3,023,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of JinkoSolar by 8.2% during 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 in the last quarter. Hedge funds and other institutional investors 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.