JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Several other equities research analysts have also issued reports on the stock. Roth Capital reiterated a “neutral” rating and issued a $18.00 price target on shares of JinkoSolar Holding in a research note on Friday, August 26th. Credit Suisse Group AG lowered their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. Morgan Stanley set a $27.20 price target on shares of JinkoSolar Holding and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. upgraded shares of JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. JinkoSolar Holding has an average rating of “Buy” and a consensus target price of $29.28.
Shares of JinkoSolar Holding (NYSE:JKS) opened at 15.33 on Wednesday. The company has a market cap of $482.76 million, a PE ratio of 2.90 and a beta of 3.36. The company has a 50 day moving average of $17.41 and a 200 day moving average of $19.71. JinkoSolar Holding has a 1-year low of $14.32 and a 1-year high of $29.50.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new position in JinkoSolar Holding during the first quarter valued at $703,000. Teachers Advisors Inc. purchased a new position in JinkoSolar Holding during the first quarter valued at $1,470,000. Prudential Financial Inc. raised its position in JinkoSolar Holding by 56.0% in the first quarter. Prudential Financial Inc. now owns 154,400 shares of the company’s stock valued at $3,229,000 after buying an additional 55,400 shares in the last quarter. BlackRock Inc. raised its position in JinkoSolar Holding by 137.4% in the first quarter. BlackRock Inc. now owns 8,304 shares of the company’s stock valued at $173,000 after buying an additional 4,806 shares in the last quarter. Finally, BlackRock Group LTD raised its position in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock valued at $1,617,000 after buying an additional 9,255 shares in the last quarter. Institutional investors own 19.67% of the company’s stock.
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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