JinkoSolar (NYSE:JKS) Stock Price Down 3.1% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price was down 3.1% during mid-day trading on Thursday . The stock traded as low as $25.56 and last traded at $25.74. Approximately 133,909 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,082,477 shares. The stock had previously closed at $26.57.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group lifted their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group cut their price target on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.33.

JinkoSolar Trading Down 1.1 %

The company has a 50 day simple moving average of $24.39 and a 200 day simple moving average of $22.32. The stock has a market capitalization of $1.34 billion, a PE ratio of 42.85 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.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently bought and sold shares of JKS. Decade Renewable Partners LP purchased a new stake in shares of JinkoSolar in the second quarter valued at about $4,272,000. Millennium Management LLC boosted its holdings in JinkoSolar by 2,305.1% in the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after purchasing an additional 161,888 shares in the last quarter. Marshall Wace LLP increased its position in JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares during the period. Point72 Europe London LLP purchased a new position in shares of JinkoSolar during the 2nd quarter worth approximately $3,023,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after buying an additional 74,219 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

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.