JinkoSolar (NYSE:JKS) Trading 3.5% Higher – Time to Buy?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) were up 3.5% on Friday . The company traded as high as $24.67 and last traded at $24.57. Approximately 171,116 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 661,114 shares. The stock had previously closed at $23.73.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on JKS shares. Roth Mkm boosted their price objective on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $22.33.

JinkoSolar Stock Down 0.1%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02. The company’s fifty day simple moving average is $26.56 and its 200-day simple moving average is $25.84. The firm has a market capitalization of $1.22 billion, a PE ratio of -2.59 and a beta of 0.55.

Institutional Trading of JinkoSolar

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after purchasing an additional 213,935 shares during the period. Mackenzie Financial Corp lifted its position in shares of JinkoSolar by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock valued at $36,289,000 after acquiring an additional 20,000 shares in the last quarter. State Street Corp boosted its stake in shares of JinkoSolar by 8.0% during the fourth quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock valued at $18,978,000 after acquiring an additional 54,661 shares during the last quarter. Legal & General Group Plc increased its position in JinkoSolar by 9,212.1% during the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after purchasing an additional 494,595 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of JinkoSolar by 35.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock worth $10,691,000 after purchasing an additional 108,744 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.