JinkoSolar (NYSE:JKS) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.30 and traded as high as $29.35. JinkoSolar shares last traded at $27.9150, with a volume of 832,403 shares trading hands.

Analysts Set New Price Targets

JKS has been the topic of several research reports. Zacks Research upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. UBS Group restated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Roth Mkm upped their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group increased their price target on JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.33.

JinkoSolar Stock Performance

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.05 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30. The stock’s fifty day moving average is $27.17 and its two-hundred day moving average is $25.30.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in the business. MTM Investment Management LLC acquired a new stake in shares of JinkoSolar during the second quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new position in JinkoSolar during the 2nd quarter worth $47,000. Banque Cantonale Vaudoise bought a new stake in shares of JinkoSolar in the 4th quarter worth about $58,000. Leonteq Securities AG acquired a new stake in shares of JinkoSolar in the 4th quarter valued at about $101,000. Finally, New York State Common Retirement Fund bought a new position in shares of JinkoSolar during the third quarter worth about $182,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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.