JinkoSolar (NYSE:JKS) Shares Gap Up to $32.01

JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up prior to trading on Thursday . The stock had previously closed at $32.01, but opened at $33.00. JinkoSolar shares last traded at $32.36, with a volume of 135,762 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on JinkoSolar in a report on Thursday, August 17th. They issued a “hold” rating for the company. The Goldman Sachs Group cut their price target on JinkoSolar from $38.00 to $33.00 and set a “sell” rating for the company in a report on Tuesday, August 15th. Finally, HSBC raised their price target on JinkoSolar from $77.00 to $78.00 in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, JinkoSolar has an average rating of “Hold” and an average price target of $60.33.

JinkoSolar Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.11. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 4.35 and a beta of 0.81. The firm has a fifty day simple moving average of $40.39 and a 200-day simple moving average of $45.34.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of JKS. Snow Lake Management LP bought a new stake in shares of JinkoSolar in the first quarter valued at about $40,816,000. Marshall Wace LLP boosted its position in shares of JinkoSolar by 116.9% in the second quarter. Marshall Wace LLP now owns 1,036,954 shares of the semiconductor company’s stock valued at $46,020,000 after acquiring an additional 558,962 shares during the period. Mackenzie Financial Corp boosted its position in shares of JinkoSolar by 33.5% in the second quarter. Mackenzie Financial Corp now owns 2,184,056 shares of the semiconductor company’s stock valued at $97,540,000 after acquiring an additional 547,687 shares during the period. Schroder Investment Management Group boosted its position in shares of JinkoSolar by 23.6% in the fourth quarter. Schroder Investment Management Group now owns 2,481,981 shares of the semiconductor company’s stock valued at $101,463,000 after acquiring an additional 473,716 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of JinkoSolar by 64.2% in the first quarter. Handelsbanken Fonder AB now owns 1,187,480 shares of the semiconductor company’s stock valued at $60,585,000 after acquiring an additional 464,115 shares during the period. Institutional investors own 38.40% of the company’s stock.

About JinkoSolar

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; and develops commercial solar power projects.