JinkoSolar (NYSE:JKS) Trading Down 3.7% - Here's Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares dropped 3.7% during trading on Thursday . The stock traded as low as $24.50 and last traded at $24.52. Approximately 100,665 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,081,548 shares. The stock had previously closed at $25.47.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JKS shares. Roth Mkm lowered their target price on shares of JinkoSolar from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. StockNews.com upgraded JinkoSolar from a "sell" rating to a "hold" rating in a research report on Wednesday, September 18th. Jefferies Financial Group upped their price objective on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Finally, The Goldman Sachs Group cut their price target on shares of JinkoSolar from $21.00 to $18.00 and set a "sell" rating on the stock in a report on Tuesday, September 3rd. One 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $31.33.

JinkoSolar Price Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of 40.71 and a beta of 0.35. The stock's fifty day simple moving average is $23.92 and its 200 day simple moving average is $22.37. 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 Trading of JinkoSolar

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in JinkoSolar by 16.0% in the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company's stock valued at $442,000 after buying an additional 2,939 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of JinkoSolar by 607.7% during the second 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company's stock valued at $20,357,000 after buying an additional 74,219 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company's stock valued at $253,000 after buying an additional 960 shares during the period. Finally, Marshall Wace LLP grew its holdings in JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company's stock worth $9,277,000 after acquiring an additional 148,268 shares during the period. 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.