JinkoSolar (NYSE:JKS) Shares Down 5.5% – What’s Next?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded down 5.5% during mid-day trading on Wednesday . The company traded as low as $27.10 and last traded at $27.19. 601,870 shares traded hands during trading, a decline of 44% from the average session volume of 1,082,725 shares. The stock had previously closed at $28.78.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group raised their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group decreased their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm cut their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. One investment 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, JinkoSolar currently has an average rating of “Hold” and an average price target of $31.33.

JinkoSolar Stock Performance

The firm has a 50 day simple moving average of $23.96 and a 200-day simple moving average of $22.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 48.75 and a beta of 0.35.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of JinkoSolar by 16.0% in the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,939 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of JinkoSolar by 43.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 3,521 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,476 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares during the period. Finally, Profund Advisors LLC boosted its holdings in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 960 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

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.