JinkoSolar (NYSE:JKS) Upgraded to Hold at Wall Street Zen

JinkoSolar (NYSE:JKS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

JinkoSolar Stock Down 2.4%

Shares of JKS opened at $24.86 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of -4.95 and a beta of 0.13. The company’s fifty day moving average is $23.20 and its two-hundred day moving average is $20.59. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $37.36. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new position in shares of JinkoSolar in the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar in the 1st quarter valued at $36,000. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the 2nd quarter valued at $47,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of JinkoSolar by 502.4% in the 1st 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 3,998 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.