JinkoSolar (NYSE:JKS) Price Target Raised to $18.00

JinkoSolar (NYSE:JKS) had its price target lifted by The Goldman Sachs Group from $15.00 to $18.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a sell rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on JKS. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Wednesday. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $28.99.

JinkoSolar Price Performance

Shares of JKS stock opened at $22.04 on Wednesday. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $29.80. The firm’s 50 day moving average is $23.76 and its 200-day moving average is $20.98. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.39 and a beta of 0.44. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11.

Hedge Funds Weigh In On JinkoSolar

Several large investors have recently bought and sold shares of JKS. MTM Investment Management LLC acquired a new position in JinkoSolar in the second quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar in the first quarter worth $36,000. Raymond James Financial Inc. acquired a new stake in JinkoSolar in the second quarter worth $47,000. Caitong International Asset Management Co. Ltd raised its holdings in JinkoSolar by 502.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 4,562 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in JinkoSolar by 7,759.6% in the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 10,941 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.