JinkoSolar Holding Co., Ltd. (NYSE:JKS) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its stake in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 1,592.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 129,385 shares of the semiconductor company's stock after acquiring an additional 121,740 shares during the period. Balyasny Asset Management L.P. owned approximately 0.24% of JinkoSolar worth $3,222,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Barclays PLC raised its position in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock valued at $532,000 after purchasing an additional 1,028 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in shares of JinkoSolar in the 4th quarter valued at approximately $55,000. SBI Securities Co. Ltd. acquired a new position in shares of JinkoSolar in the 4th quarter valued at approximately $119,000. Finally, New York State Common Retirement Fund acquired a new position in shares of JinkoSolar in the 4th quarter valued at approximately $132,000. 35.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JKS shares. The Goldman Sachs Group cut their target price on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group dropped their price target on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.19.

JinkoSolar Stock Performance

JKS traded down $0.07 during trading on Friday, reaching $19.34. 412,823 shares of the company were exchanged, compared to its average volume of 1,066,445. The stock has a market cap of $993.73 million, a P/E ratio of 32.78 and a beta of 0.16. The firm has a 50 day moving average of $18.33 and a 200 day moving average of $21.73. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. JinkoSolar Holding Co., Ltd. has a 52 week low of $13.42 and a 52 week high of $37.36.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($1.45) by ($1.40). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. JinkoSolar's quarterly revenue was down 39.9% compared to the same quarter last year. On average, sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

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.