JinkoSolar (NYSE:JKS) Trading Down 6.2% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) was down 6.2% during trading on Wednesday . The company traded as low as $27.00 and last traded at $26.87. Approximately 153,617 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 744,262 shares. The stock had previously closed at $28.65.

Analyst Upgrades and Downgrades

JKS has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $29.49.

JinkoSolar Stock Down 7.5%

The company’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $22.64. The firm has a market capitalization of $1.37 billion, a PE ratio of -5.28 and a beta of 0.60. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar in the first quarter worth about $36,000. Charles Schwab Investment Management Inc. acquired a new position in JinkoSolar in the first quarter valued at approximately $1,660,000. Invesco Ltd. boosted its position in JinkoSolar by 15.3% in the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company’s stock worth $26,439,000 after purchasing an additional 187,930 shares in the last quarter. Nuveen LLC acquired a new stake in shares of JinkoSolar during the 1st quarter worth approximately $598,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of JinkoSolar by 17.2% during the 1st quarter. Russell Investments Group Ltd. now owns 35,052 shares of the semiconductor company’s stock valued at $687,000 after purchasing an additional 5,141 shares in the last quarter. Hedge funds and other institutional investors 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.