JinkoSolar (NYSE:JKS) Stock Price Down 3.6% – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded down 3.6% during mid-day trading on Monday . The company traded as low as $21.90 and last traded at $21.75. 127,252 shares changed hands during trading, a decline of 87% from the average session volume of 1,010,633 shares. The stock had previously closed at $22.57.

Analyst Ratings Changes

JKS has been the subject of a number of recent analyst reports. Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group lifted their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.49.

JinkoSolar Stock Performance

The stock’s fifty day moving average is $22.03 and its 200-day moving average is $23.12. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 35.34 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

Institutional Investors Weigh In On JinkoSolar

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its stake in JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares in the last quarter. CoreCommodity Management LLC raised its holdings in shares of JinkoSolar by 1.1% during the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after acquiring an additional 640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock valued at $532,000 after acquiring an additional 1,028 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares during the period. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in shares of JinkoSolar in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.