Verition Fund Management LLC Makes New Investment in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Verition Fund Management LLC acquired a new stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,413 shares of the semiconductor company’s stock, valued at approximately $682,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in shares of JinkoSolar by 1.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after purchasing an additional 44,661 shares during the last quarter. Marshall Wace LLP raised its position in shares of JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares during the period. Millennium Management LLC boosted its holdings in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 161,888 shares during the last quarter. SG Americas Securities LLC increased its stake in JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 2,939 shares during the last quarter. Finally, Decade Renewable Partners LP purchased a new position in shares of JinkoSolar in the 2nd quarter worth about $4,272,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Price Performance

Shares of JKS stock opened at $28.76 on Wednesday. JinkoSolar Holding Co., Ltd. has a twelve month low of $16.70 and a twelve month high of $38.37. The company has a market capitalization of $1.53 billion, a PE ratio of 48.75 and a beta of 0.35. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $23.96 and a 200-day simple moving average of $22.40.

Wall Street Analyst Weigh In

JKS has been the subject of a number of research analyst reports. Roth Mkm dropped their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group increased 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.33.

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.