JinkoSolar Holding Co. (JKS) Lifted to Hold at Zacks Investment Research
JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley set a $27.20 price target on shares of JinkoSolar Holding and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG dropped their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. Roth Capital reaffirmed a “neutral” rating and set a $18.00 price target on shares of JinkoSolar Holding in a research note on Friday, August 26th. Finally, JPMorgan Chase & Co. raised shares of JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $29.28.
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JinkoSolar Holding (NYSE:JKS) traded down 4.74% on Wednesday, reaching $16.09. 318,286 shares of the company traded hands. The company has a 50-day moving average price of $17.17 and a 200-day moving average price of $19.62. The company has a market capitalization of $506.69 million, a P/E ratio of 3.04 and a beta of 3.36. JinkoSolar Holding has a 12 month low of $14.32 and a 12 month high of $29.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. bought a new position in shares of JinkoSolar Holding during the first quarter valued at $703,000. Teachers Advisors Inc. acquired a new position in JinkoSolar Holding during the first quarter valued at approximately $1,470,000. Prudential Financial Inc. raised its position in JinkoSolar Holding by 56.0% in the first quarter. Prudential Financial Inc. now owns 154,400 shares of the company’s stock valued at $3,229,000 after buying an additional 55,400 shares during the period. BlackRock Inc. raised its position in JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock valued at $173,000 after buying an additional 4,806 shares during the period. Finally, BlackRock Group LTD raised its position in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock valued at $1,617,000 after buying an additional 9,255 shares during the period. 19.67% of the stock is owned by institutional investors.
About JinkoSolar Holding
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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