JinkoSolar Holding Company Limited (NYSE:JKS) Receives $22.33 Average Target Price from Analysts

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have been assigned a consensus recommendation of “Reduce” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.3333.

Several analysts have weighed in on JKS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. The Goldman Sachs Group lifted their price target on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, November 19th. Roth Mkm increased their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th.

JinkoSolar Stock Down 0.6%

Shares of JKS opened at $26.27 on Friday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -2.87 and a beta of 0.52. JinkoSolar has a 52 week low of $13.42 and a 52 week high of $31.88. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30. The business’s fifty day moving average price is $27.33 and its two-hundred day moving average price is $25.58.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds have recently added to or reduced their stakes in JKS. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of JinkoSolar by 18.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after buying an additional 3,608 shares during the period. Geode Capital Management LLC raised its position in shares of JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after acquiring an additional 3,394 shares during the period. MTM Investment Management LLC bought a new position in JinkoSolar during the 2nd quarter worth approximately $28,000. JPMorgan Chase & Co. grew its holdings in JinkoSolar by 7,759.6% during 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. Finally, XTX Topco Ltd bought a new stake in JinkoSolar in the second quarter valued at approximately $1,160,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.