JinkoSolar (NYSE:JKS) Sets New 12-Month High – What’s Next?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $29.98 and last traded at $29.78, with a volume of 674482 shares trading hands. The stock had previously closed at $28.20.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their target price on shares of JinkoSolar from $15.00 to $18.00 and gave the company a “sell” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus target price of $28.99.

JinkoSolar Price Performance

The company has a 50 day simple moving average of $24.36 and a 200 day simple moving average of $22.11. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -5.91 and a beta of 0.60. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Institutional Investors Weigh In On JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC raised its holdings in shares of JinkoSolar by 5.3% during the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 937 shares during the period. MTM Investment Management LLC acquired a new stake in JinkoSolar in the second quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the first quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar during the second quarter worth $47,000. Finally, Geode Capital Management LLC lifted its position in shares of JinkoSolar by 9.9% during the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after purchasing an additional 3,394 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.