JinkoSolar (NYSE:JKS) Shares Gap Up After Analyst Upgrade

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price gapped up prior to trading on Tuesday after Daiwa Securities Group upgraded the stock from a sell rating to a buy rating. The stock had previously closed at $23.91, but opened at $25.01. Daiwa Securities Group now has a $28.50 price target on the stock. JinkoSolar shares last traded at $25.2150, with a volume of 144,801 shares changing hands.

Other analysts also recently issued reports about the company. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, JinkoSolar has a consensus rating of “Reduce” and an average target price of $23.88.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in JinkoSolar in the second quarter valued at about $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $58,000. Leonteq Securities AG purchased a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $101,000. New York State Common Retirement Fund acquired a new position in shares of JinkoSolar in the 3rd quarter worth approximately $182,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 5,211 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Price Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30. The stock’s 50-day moving average is $26.22 and its two-hundred day moving average is $25.87. The stock has a market cap of $1.37 billion, a PE ratio of -2.89 and a beta of 0.55.

About JinkoSolar

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.