JinkoSolar (NYSE:JKS) Share Price Passes Above 200-Day Moving Average – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.30 and traded as high as $29.35. JinkoSolar shares last traded at $27.9150, with a volume of 832,403 shares trading hands.

Analysts Set New Price Targets

JKS has been the subject of several research reports. The Goldman Sachs Group lifted their target price on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, November 19th. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Roth Mkm increased their target price on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 21st. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Finally, Zacks Research raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.33.

JinkoSolar Trading Down 5.1%

The firm’s fifty day moving average price is $27.17 and its 200-day moving average price is $25.30. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -3.05 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, beating the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.72 billion. On average, equities analysts expect that JinkoSolar Holding Company Limited will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its position in JinkoSolar by 9,212.1% in the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after buying an additional 494,595 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of JinkoSolar by 189.9% in the fourth quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after acquiring an additional 127,234 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in shares of JinkoSolar during the fourth quarter valued at approximately $3,299,000. Progeny 3 Inc. bought a new stake in JinkoSolar during the third quarter worth approximately $2,341,000. Finally, Invesco Ltd. lifted its position in JinkoSolar by 6.7% in the third quarter. Invesco Ltd. now owns 1,390,315 shares of the semiconductor company’s stock worth $33,409,000 after purchasing an additional 87,334 shares during the period. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Company Profile

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.