California Public Employees Retirement System Buys 6,388 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

California Public Employees Retirement System increased its stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,763 shares of the semiconductor company’s stock after purchasing an additional 6,388 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of JinkoSolar worth $3,547,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JKS. Toroso Investments LLC bought a new stake in shares of JinkoSolar in the 3rd quarter worth approximately $35,000. Quadrant Capital Group LLC raised its holdings in JinkoSolar by 98.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 690 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 343 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in JinkoSolar during the 4th quarter valued at $103,000. US Bancorp DE raised its holdings in JinkoSolar by 25.0% during the 3rd quarter. US Bancorp DE now owns 2,680 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 536 shares during the period. Finally, Counterpoint Mutual Funds LLC increased its holdings in shares of JinkoSolar by 92.0% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 3,642 shares of the semiconductor company’s stock worth $149,000 after purchasing an additional 1,745 shares during the period.

JinkoSolar Stock Up 2.5 %

Shares of NYSE:JKS opened at $44.06 on Friday. JinkoSolar Holding Co., Ltd. has a 52-week low of $38.43 and a 52-week high of $76.92. The firm has a fifty day moving average of $47.43 and a 200 day moving average of $49.70. The firm has a market capitalization of $2.21 billion, a PE ratio of 21.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 1.06.

JinkoSolar (NYSE:JKS – Get Rating) last posted its quarterly earnings results on Friday, March 10th. The semiconductor company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.05. JinkoSolar had a net margin of 1.51% and a return on equity of 8.66%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $3.76 billion. As a group, research analysts anticipate that JinkoSolar Holding Co., Ltd. will post 8.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of JinkoSolar in a report on Thursday. They issued a “buy” rating on the stock. The Goldman Sachs Group upped their price target on shares of JinkoSolar from $38.00 to $41.00 in a report on Monday, January 30th. Finally, HSBC upped their target price on shares of JinkoSolar from $77.00 to $78.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.00.

JinkoSolar Company Profile

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JinkoSolar Holding Co, Ltd. engages in the manufacture of solar modules. It distributes solar products and sells its solutions and services to a diversified international utility, commercial and residential customers. The company was founded by Xiande Li, Kangping Chen, and Xianhua Li on August 3, 2007 and is headquartered in Shangrao, China.