Vontobel Holding Ltd. Reduces Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Vontobel Holding Ltd. lowered its position in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 24.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,551 shares of the semiconductor company's stock after selling 15,100 shares during the quarter. Vontobel Holding Ltd. owned 0.09% of JinkoSolar worth $1,159,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JKS. SG Americas Securities LLC purchased a new stake in shares of JinkoSolar during the fourth quarter worth about $1,435,000. State Street Corp boosted its stake in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock worth $18,687,000 after purchasing an additional 67,223 shares during the period. Verition Fund Management LLC purchased a new stake in JinkoSolar during the 3rd quarter valued at approximately $682,000. Geode Capital Management LLC raised its position in shares of JinkoSolar by 19.7% during the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company's stock valued at $1,197,000 after buying an additional 7,333 shares during the last quarter. Finally, Barclays PLC lifted its holdings 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 buying an additional 537 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on JKS shares. Jefferies Financial Group raised their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Daiwa Capital Markets downgraded shares of JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Finally, Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.79.

JinkoSolar Price Performance

JKS stock traded down $0.60 during trading on Friday, hitting $23.08. 623,477 shares of the company's stock traded hands, compared to its average volume of 740,998. The business has a fifty day simple moving average of $23.39 and a 200 day simple moving average of $22.54. JinkoSolar Holding Co., Ltd. has a 52 week low of $16.70 and a 52 week high of $37.36. 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 $1.23 billion, a price-to-earnings ratio of 39.12 and a beta of 0.27.

JinkoSolar 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.