Acadian Asset Management LLC Grows Stake in JinkoSolar Holding Company Limited $JKS

Key Points

• Acadian Asset Management LLC increased its stake in JinkoSolar by 41.2%, acquiring an additional 113,187 shares to total 387,834 shares valued at approximately $7.22 million.
• Other hedge funds, including Charles Schwab and Hsbc Holdings, have also made significant acquisitions or increases in their positions in JinkoSolar, reflecting a growing institutional interest.
• Wall Street analysts have raised JinkoSolar from a "sell" to a "hold" rating, with a consensus price target of $28.99, indicating a cautious optimism about the company’s stock performance.

Acadian Asset Management LLC increased its position in JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 387,834 shares of the semiconductor company's stock after acquiring an additional 113,187 shares during the quarter. Acadian Asset Management LLC owned about 0.75% of JinkoSolar worth $7,220,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JKS. Greenwoods Asset Management Hong Kong Ltd. increased its holdings in JinkoSolar by 37.0% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company's stock worth $14,557,000 after acquiring an additional 211,000 shares during the last quarter. Invesco Ltd. grew its holdings in JinkoSolar by 15.3% during the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company's stock valued at $26,439,000 after buying an additional 187,930 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in JinkoSolar during the 1st quarter valued at about $2,349,000. Millennium Management LLC purchased a new position in JinkoSolar during the 4th quarter valued at about $2,846,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in JinkoSolar during the 1st quarter valued at about $1,660,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

JinkoSolar Stock Performance

JKS stock traded down $1.07 during trading on Thursday, reaching $24.27. The stock had a trading volume of 265,526 shares, compared to its average volume of 747,889. JinkoSolar Holding Company Limited has a 52 week low of $13.42 and a 52 week high of $37.36. The stock's 50 day moving average is $23.40 and its two-hundred day moving average is $20.72. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.25 billion, a PE ratio of -4.83 and a beta of 0.13.

Analysts Set New Price Targets

Separately, Wall Street Zen raised JinkoSolar from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $28.99.

JinkoSolar 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.