Acadian Asset Management LLC Has $7.22 Million Stock Holdings 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 lifted its holdings in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 41.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 387,834 shares of the semiconductor company's stock after acquiring an additional 113,187 shares during the period. Acadian Asset Management LLC owned approximately 0.75% of JinkoSolar worth $7,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenwoods Asset Management Hong Kong Ltd. grew its position in JinkoSolar by 37.0% during 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. lifted its position in JinkoSolar by 15.3% during the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company's stock worth $26,439,000 after buying an additional 187,930 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in JinkoSolar during the 1st quarter worth about $2,349,000. Millennium Management LLC acquired a new position in JinkoSolar during the 4th quarter worth about $2,846,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in JinkoSolar during the 1st quarter worth about $1,660,000. 35.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $28.99.

JinkoSolar Trading Up 5.5%

Shares of NYSE:JKS traded up $1.37 during mid-day trading on Monday, reaching $26.46. The stock had a trading volume of 1,189,921 shares, compared to its average volume of 508,215. The firm has a market cap of $1.37 billion, a PE ratio of -5.27 and a beta of 0.13. The firm has a 50 day simple moving average of $23.33 and a two-hundred day simple moving average of $20.65. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. JinkoSolar Holding Company Limited has a twelve month low of $13.42 and a twelve month high of $37.36.

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.