JinkoSolar (NYSE:JKS) Trading Up 5% – What’s Next?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) were up 5% during trading on Friday . The stock traded as high as $25.25 and last traded at $24.79. Approximately 175,782 shares were traded during trading, a decline of 76% from the average daily volume of 746,781 shares. The stock had previously closed at $23.60.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, JinkoSolar has an average rating of “Reduce” and a consensus price target of $28.99.

JinkoSolar Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock has a market cap of $1.29 billion, a P/E ratio of -4.99 and a beta of 0.13. The firm’s fifty day moving average price is $23.28 and its 200-day moving average price is $20.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JKS. Charles Schwab Investment Management Inc. bought a new stake in JinkoSolar in the first quarter valued at $1,660,000. Hsbc Holdings PLC boosted its holdings in JinkoSolar by 23.1% in the first quarter. Hsbc Holdings PLC now owns 126,175 shares of the semiconductor company’s stock valued at $2,351,000 after acquiring an additional 23,652 shares in the last quarter. Jump Financial LLC boosted its holdings in JinkoSolar by 573.2% in the first quarter. Jump Financial LLC now owns 54,176 shares of the semiconductor company’s stock valued at $1,010,000 after acquiring an additional 46,129 shares in the last quarter. Northern Trust Corp boosted its holdings in JinkoSolar by 58.6% in the fourth quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company’s stock valued at $2,098,000 after acquiring an additional 31,130 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in JinkoSolar by 63.6% in the first quarter. Aberdeen Group plc now owns 78,065 shares of the semiconductor company’s stock valued at $1,455,000 after acquiring an additional 30,340 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

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.