JinkoSolar (NYSE:JKS) Stock Price Down 5.5% – Should You Sell?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) were down 5.5% on Friday . The stock traded as low as $23.25 and last traded at $23.21. Approximately 121,168 shares changed hands during trading, a decline of 83% from the average daily volume of 733,263 shares. The stock had previously closed at $24.57.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JKS shares. The Goldman Sachs Group boosted their target price on JinkoSolar from $15.00 to $18.00 and gave the stock a “sell” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Wednesday. Finally, Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, JinkoSolar currently has an average rating of “Strong Sell” and a consensus target price of $28.99.

JinkoSolar Stock Performance

The company has a market cap of $1.14 billion, a price-to-earnings ratio of -4.39 and a beta of 0.44. The firm has a 50-day simple moving average of $23.76 and a 200 day simple moving average of $20.98. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MTM Investment Management LLC acquired a new position in shares of JinkoSolar in the second quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar in the first quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the second quarter valued at approximately $47,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 valued at $102,000 after purchasing an additional 4,562 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of JinkoSolar by 7,759.6% in the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 10,941 shares during the period. 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.