JinkoSolar (NYSE:JKS) Shares Gap Up – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $20.70, but opened at $21.35. JinkoSolar shares last traded at $22.32, with a volume of 697,547 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.49.

JinkoSolar Price Performance

The stock has a fifty day moving average of $21.91 and a two-hundred day moving average of $23.17. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 37.44 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co acquired a new position in JinkoSolar during the fourth quarter worth about $55,000. Barclays PLC boosted its stake in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of JinkoSolar in the 4th quarter worth approximately $119,000. New York State Common Retirement Fund purchased a new position in JinkoSolar in the 4th quarter valued at approximately $132,000. Finally, Jump Financial LLC acquired a new position in JinkoSolar during the fourth quarter worth $200,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.