JinkoSolar (NYSE:JKS) Shares Gap Down – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares gapped down before the market opened on Thursday . The stock had previously closed at $23.86, but opened at $22.72. JinkoSolar shares last traded at $24.16, with a volume of 246,277 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on JKS. Jefferies Financial Group upped their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, Glj Research reduced their target price on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.79.

JinkoSolar Price Performance

The firm has a market capitalization of $1.27 billion, a P/E ratio of 40.85 and a beta of 0.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The stock has a 50 day moving average of $23.08 and a two-hundred day moving average of $22.66.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC grew its position in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. CoreCommodity Management LLC increased its position in JinkoSolar by 1.1% in the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares during the period. Signaturefd LLC lifted its holdings in shares of JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after buying an additional 647 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of JinkoSolar by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after buying an additional 1,028 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.