JinkoSolar Holding Co. (JKS) Given Consensus Recommendation of “Buy” by Brokerages
JinkoSolar Holding Co. (NYSE:JKS) has been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.94.
Several equities analysts recently issued reports on JKS shares. Roth Capital lowered JinkoSolar Holding from a “buy” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $30.00 in a research report on Friday, August 5th. Zacks Investment Research lowered JinkoSolar Holding from a “hold” rating to a “sell” rating in a research report on Monday, June 20th. Credit Suisse Group AG reduced their price target on JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 18th. Finally, Morgan Stanley set a $27.20 price target on JinkoSolar Holding and gave the stock a “buy” rating in a research report on Wednesday, August 3rd.
JinkoSolar Holding (NYSE:JKS) traded up 0.49% during midday trading on Monday, hitting $16.48. The stock had a trading volume of 129,376 shares. The company has a market cap of $518.97 million, a P/E ratio of 3.12 and a beta of 3.36. The firm’s 50-day moving average price is $16.69 and its 200 day moving average price is $19.48. JinkoSolar Holding has a 12 month low of $14.32 and a 12 month high of $29.50.
A number of large investors have recently added to or reduced their stakes in JKS. Numeric Investors LLC boosted its stake in JinkoSolar Holding by 120.3% in the second quarter. Numeric Investors LLC now owns 899,208 shares of the company’s stock valued at $18,326,000 after buying an additional 491,126 shares during the period. Emerald Acquisition Ltd. purchased a new position in JinkoSolar Holding during the second quarter worth approximately $6,669,000. Prudential Financial Inc. boosted its position in JinkoSolar Holding by 132.3% in the second quarter. Prudential Financial Inc. now owns 358,700 shares of the company’s stock worth $7,311,000 after buying an additional 204,300 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd purchased a new position in JinkoSolar Holding during the second quarter worth approximately $4,148,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in JinkoSolar Holding by 84.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 261,069 shares of the company’s stock worth $5,321,000 after buying an additional 119,771 shares during the last quarter. Institutional investors and hedge funds own 19.57% of the company’s stock.
JinkoSolar Holding Company Profile
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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