JinkoSolar (NYSE:JKS) Shares Gap Up – Time to Buy?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) gapped up before the market opened on Tuesday . The stock had previously closed at $24.00, but opened at $25.18. JinkoSolar shares last traded at $25.4420, with a volume of 149,512 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JKS shares. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. Zacks Research downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Roth Mkm boosted their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, JinkoSolar presently has a consensus rating of “Reduce” and an average target price of $22.33.

JinkoSolar Trading Up 6.1%

The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average of $26.89 and a two-hundred day moving average of $25.76. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.78 and a beta of 0.55.

Institutional Investors Weigh In On JinkoSolar

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

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.