JinkoSolar (NYSE:JKS) Share Price Passes Above 200-Day Moving Average – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.35 and traded as high as $27.08. JinkoSolar shares last traded at $25.47, with a volume of 687,814 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JKS. Roth Mkm cut their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group boosted their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Stock Down 0.9 %

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 business’s 50 day moving average price is $23.92 and its 200 day moving average price is $22.37. The firm has a market cap of $1.27 billion, a PE ratio of 40.34 and a beta of 0.35.

Institutional Trading of JinkoSolar

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after purchasing an additional 44,661 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after buying an additional 74,219 shares during the period. State Street Corp increased its holdings in shares of JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after buying an additional 67,223 shares during the last quarter. Marshall Wace LLP raised its position in shares of JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 shares during the period. Finally, Decade Renewable Partners LP acquired a new position in JinkoSolar in the second quarter valued at approximately $4,272,000. 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.