JinkoSolar Holding Co. (JKS) Given Consensus Recommendation of “Buy” by Brokerages
JinkoSolar Holding Co. (NYSE:JKS) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to 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.
A number of research analysts have recently commented on JKS shares. Zacks Investment Research raised JinkoSolar Holding from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Credit Suisse Group AG cut their target price on 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 cut JinkoSolar Holding from a “buy” rating to a “neutral” rating and upped their target price for the company from $18.00 to $30.00 in a research note on Friday, August 5th. Finally, Morgan Stanley set a $27.20 target price on JinkoSolar Holding and gave the company a “buy” rating in a research note on Wednesday, August 3rd.
Shares of JinkoSolar Holding (NYSE:JKS) traded up 0.49% on Monday, reaching $16.48. The company’s stock had a trading volume of 129,376 shares. The firm has a market capitalization of $518.97 million, a PE ratio of 3.12 and a beta of 3.36. JinkoSolar Holding has a one year low of $14.32 and a one year high of $29.50. The firm has a 50-day moving average price of $16.69 and a 200 day moving average price of $19.48.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Numeric Investors LLC boosted its position in shares of 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. bought a new stake in JinkoSolar Holding during the second quarter worth $6,669,000. Prudential Financial Inc. raised its stake 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 in the last quarter. Kleinwort Benson Investors Dublin Ltd bought a new stake in JinkoSolar Holding during the second quarter worth $4,148,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake 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 in the last quarter. 19.57% of the stock is currently owned by institutional investors.
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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