JinkoSolar (NYSE:JKS) Stock Price Up 3.5% – Should You Buy?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) shot up 3.5% during trading on Friday . The stock traded as high as $24.67 and last traded at $24.57. 171,116 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 661,114 shares. The stock had previously closed at $23.73.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Zacks Research downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $22.33.

JinkoSolar Price Performance

The firm has a fifty day moving average of $26.48 and a two-hundred day moving average of $25.85. The stock has a market capitalization of $1.21 billion, a P/E ratio of -2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently modified their holdings of JKS. Raymond James Financial Inc. bought a new position in shares of JinkoSolar during the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise bought a new position in JinkoSolar in the fourth quarter worth approximately $58,000. Leonteq Securities AG purchased a new stake in JinkoSolar during the fourth quarter worth $101,000. New York State Common Retirement Fund purchased a new stake in JinkoSolar during the third quarter worth $182,000. Finally, Federation des caisses Desjardins du Quebec boosted its position in JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after acquiring an additional 5,211 shares in the last quarter. Hedge funds and other institutional investors 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.