Millennium Management LLC Acquires Shares of 114,302 JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Millennium Management LLC purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,302 shares of the semiconductor company's stock, valued at approximately $2,846,000. Millennium Management LLC owned approximately 0.22% of JinkoSolar at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JKS. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after buying an additional 3,998 shares in the last quarter. CoreCommodity Management LLC increased its stake in shares of JinkoSolar by 1.1% during the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after purchasing an additional 640 shares in the last quarter. Caxton Associates LP purchased a new position in shares of JinkoSolar during the fourth quarter valued at approximately $1,285,000. Balyasny Asset Management L.P. boosted its position in shares of JinkoSolar by 1,592.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock worth $3,222,000 after purchasing an additional 121,740 shares in the last quarter. Finally, Northern Trust Corp increased its position in JinkoSolar by 58.6% during the 4th quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock valued at $2,098,000 after buying an additional 31,130 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group cut their price target on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. Finally, Citigroup downgraded shares of JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.19.

JinkoSolar Stock Performance

JKS traded up $0.01 during trading on Wednesday, hitting $18.67. The company's stock had a trading volume of 128,591 shares, compared to its average volume of 1,036,447. The business's 50 day simple moving average is $17.50 and its 200-day simple moving average is $21.26. The firm has a market cap of $959.36 million, a PE ratio of 31.76 and a beta of 0.16. JinkoSolar Holding Co., Ltd. has a one year low of $13.42 and a one year high of $37.36. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the firm posted $1.34 earnings per share. JinkoSolar's revenue for the quarter was down 39.9% on a year-over-year basis. As a group, sell-side analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

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.