JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Several other analysts have also commented on JKS. Roth Capital reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of JinkoSolar Holding in a report on Friday, August 26th. Morgan Stanley set a $27.20 price objective on JinkoSolar Holding and gave the stock a “buy” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. raised JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a report on Thursday, June 9th. Finally, Credit Suisse Group AG cut their price objective on JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $29.28.
Shares of JinkoSolar Holding (NYSE:JKS) traded down 1.6832% during mid-day trading on Wednesday, reaching $16.6057. The company had a trading volume of 106,648 shares. The stock has a market capitalization of $522.93 million, a P/E ratio of 3.1409 and a beta of 3.36. The firm has a 50 day moving average of $17.27 and a 200-day moving average of $19.67. JinkoSolar Holding has a one year low of $14.32 and a one year high of $29.50.
Large investors have recently made changes to their positions in the company. Numeric Investors LLC increased its stake in shares of JinkoSolar Holding by 120.3% in the second quarter. Numeric Investors LLC now owns 899,208 shares of the company’s stock valued at $18,326,000 after buying an additional 491,126 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of JinkoSolar Holding by 7.3% in the second quarter. Guggenheim Capital LLC now owns 517,435 shares of the company’s stock valued at $10,545,000 after buying an additional 35,410 shares in the last quarter. Oceanic Investment Management LTD increased its stake in shares of JinkoSolar Holding by 1.6% in the second quarter. Oceanic Investment Management LTD now owns 465,267 shares of the company’s stock valued at $9,482,000 after buying an additional 7,400 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of JinkoSolar Holding by 132.3% in the second quarter. Prudential Financial Inc. now owns 358,700 shares of the company’s stock valued at $7,311,000 after buying an additional 204,300 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of JinkoSolar Holding during the second quarter valued at $6,669,000. 19.67% of the stock is currently owned by institutional investors.
About JinkoSolar Holding
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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