JinkoSolar (NYSE:JKS) Trading Down 3.6% - Time to Sell?

Key Points

• JinkoSolar's shares fell by 3.6% during trading on Wednesday, closing at $25.11 after hitting a low of $25.02.
• Wall Street analysts have a mixed outlook on the stock, with one upgrading it to a "hold" rating but a consensus rating of "Reduce" and a price target of $28.99.
• Various institutional investors have recently adjusted their stakes in JinkoSolar, with ownership by institutional investors now at 35.82%.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) shares dropped 3.6% during mid-day trading on Wednesday . The company traded as low as $25.02 and last traded at $25.11. Approximately 155,012 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 747,726 shares. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of JinkoSolar from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $28.99.

JinkoSolar Stock Up 3.6%

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The firm has a 50-day moving average price of $23.40 and a two-hundred day moving average price of $20.73. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.97 and a beta of 0.13.

Institutional Trading of JinkoSolar

A number of institutional investors have recently bought and sold shares of the business. MTM Investment Management LLC bought a new stake in shares of JinkoSolar during the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar during the first quarter worth $36,000. Raymond James Financial Inc. bought a new position in JinkoSolar during the second quarter worth $47,000. Caitong International Asset Management Co. Ltd lifted its holdings in JinkoSolar by 502.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock valued at $102,000 after buying an additional 4,562 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company's stock worth $235,000 after purchasing an additional 10,941 shares during the period. Institutional investors own 35.82% of the company's stock.

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.