JinkoSolar (NYSE:JKS) Trading Up 4.4% - What's Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares rose 4.4% on Tuesday . The company traded as high as $22.30 and last traded at $22.06. Approximately 109,274 shares traded hands during trading, a decline of 89% from the average daily volume of 1,029,762 shares. The stock had previously closed at $21.12.

Wall Street Analysts Forecast Growth

JKS has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Glj Research cut their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a 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 research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.79.

JinkoSolar Stock Up 0.5 %

The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 38.32 and a beta of 0.40. The stock's 50 day moving average is $22.70 and its 200 day moving average is $22.81.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position 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 during the last quarter. Pictet Asset Management Holding SA acquired a new position in JinkoSolar in the fourth quarter worth approximately $5,948,000. Balyasny Asset Management L.P. grew its position in JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock worth $3,222,000 after buying an additional 121,740 shares during the last quarter. Millennium Management LLC acquired a new position in JinkoSolar in the fourth quarter worth approximately $2,846,000. Finally, Hsbc Holdings PLC grew its position in JinkoSolar by 30.6% in the fourth quarter. Hsbc Holdings PLC now owns 102,523 shares of the semiconductor company's stock worth $2,553,000 after buying an additional 24,016 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.

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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.