GSA Capital Partners LLP lowered its position in shares of JinkoSolar Holding Co. (NYSE:JKS) by 52.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,900 shares of the company’s stock after selling 13,306 shares during the period. GSA Capital Partners LLP’s holdings in JinkoSolar Holding were worth $243,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of JinkoSolar Holding during the second quarter worth $132,000. BlackRock Inc. increased its position in shares of JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock worth $173,000 after buying an additional 4,806 shares in the last quarter. Guinness Asset Management Ltd increased its position in shares of JinkoSolar Holding by 13.4% in the second quarter. Guinness Asset Management Ltd now owns 8,490 shares of the company’s stock worth $173,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of JinkoSolar Holding by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 10,972 shares of the company’s stock worth $224,000 after buying an additional 562 shares in the last quarter. Finally, Societe Generale acquired a new position in shares of JinkoSolar Holding during the second quarter worth $289,000. Institutional investors and hedge funds own 19.67% of the company’s stock.
JinkoSolar Holding Co. (NYSE:JKS) traded down 3.45% during mid-day trading on Friday, hitting $15.93. The stock had a trading volume of 329,740 shares. JinkoSolar Holding Co. has a 52 week low of $14.32 and a 52 week high of $29.50. The stock’s 50-day moving average is $17.67 and its 200 day moving average is $19.92. The company has a market capitalization of $501.65 million, a P/E ratio of 3.01 and a beta of 3.90.
A number of research analysts have recently weighed in on the company. Roth Capital reiterated a “buy” rating and set a $30.00 price target (down previously from $35.00) on shares of JinkoSolar Holding in a report on Sunday, June 5th. Zacks Investment Research downgraded JinkoSolar Holding from a “hold” rating to a “sell” rating in a research note on Monday, June 20th. Morgan Stanley set a $27.20 target price on JinkoSolar Holding and gave the company a “buy” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. upgraded JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 9th. Finally, Credit Suisse Group AG lowered their target price on JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $29.28.
About JinkoSolar Holding
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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