Legal & General Group Plc Has $12.90 Million Position in JinkoSolar Holding Company Limited $JKS

Legal & General Group Plc raised its position in JinkoSolar Holding Company Limited (NYSE:JKS) by 9,212.1% in the 4th quarter, Holdings Channel reports. The firm owned 499,964 shares of the semiconductor company’s stock after buying an additional 494,595 shares during the period. Legal & General Group Plc’s holdings in JinkoSolar were worth $12,904,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of JinkoSolar during the second quarter worth $47,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar in the 4th quarter valued at $58,000. Leonteq Securities AG bought a new stake in shares of JinkoSolar in the 4th quarter valued at $101,000. New York State Common Retirement Fund acquired a new stake in JinkoSolar during the 3rd quarter worth $182,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in JinkoSolar during the 4th quarter worth $205,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Price Performance

JKS stock opened at $22.67 on Wednesday. The stock has a 50-day moving average price of $23.58 and a two-hundred day moving average price of $25.52. JinkoSolar Holding Company Limited has a 1 year low of $17.53 and a 1 year high of $31.88. The stock has a market cap of $1.19 billion, a PE ratio of -2.33 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. Equities analysts forecast that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.

Insider Activity at JinkoSolar

In other news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the completion of the transaction, the director directly owned 10,349,612 shares of the company’s stock, valued at $264,225,594.36. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00. Following the completion of the sale, the director owned 186,000 shares in the company, valued at $4,856,460. This trade represents a 7.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. UBS Group raised their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Tuesday, March 24th. Finally, Zacks Research downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.38.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.