Glj Research Lowers JinkoSolar (NYSE:JKS) Price Target to $10.95

JinkoSolar (NYSE:JKS) had its price objective dropped by research analysts at Glj Research from $13.08 to $10.95 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the semiconductor company’s stock. Glj Research’s target price would suggest a potential downside of 47.85% from the company’s previous close.

JKS has been the subject of a number of other research reports. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Jefferies Financial Group boosted their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.42.

JinkoSolar Trading Up 2.4 %

Shares of JKS opened at $21.00 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. JinkoSolar has a one year low of $16.70 and a one year high of $37.36. The stock has a 50-day moving average price of $24.45 and a 200 day moving average price of $22.51. The company has a market capitalization of $1.12 billion, a P/E ratio of 35.59 and a beta of 0.30.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of the business. Decade Renewable Partners LP bought a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $4,272,000. Millennium Management LLC lifted its stake in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after buying an additional 161,888 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after acquiring an additional 148,268 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after acquiring an additional 74,219 shares during the period. Finally, State Street Corp lifted its position in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after purchasing an additional 67,223 shares during the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

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.