JinkoSolar (NYSE:JKS) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• JinkoSolar's stock price has recently surpassed its 200-day moving average of $20.90, trading at around $25.25 with significant volume of 669,233 shares.
• After a revision from Wall Street Zen, JinkoSolar's stock is rated as a sell by multiple analysts, with a consensus target price of $28.99.
• Institutional investors have shown increased interest, with notable stakes purchased and expanded by firms such as Charles Schwab and Aberdeen Group in the first quarter.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.90 and traded as high as $25.54. JinkoSolar shares last traded at $25.25, with a volume of 669,233 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of JinkoSolar from a "hold" rating to a "sell" rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $28.99.

JinkoSolar Price Performance

The company has a market capitalization of $1.30 billion, a P/E ratio of -5.03 and a beta of 0.44. The business's 50-day simple moving average is $23.55 and its 200 day simple moving average is $20.90. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of JinkoSolar during the 1st quarter worth about $1,660,000. Hsbc Holdings PLC raised its holdings in shares of JinkoSolar by 23.1% in the 1st quarter. Hsbc Holdings PLC now owns 126,175 shares of the semiconductor company's stock worth $2,351,000 after purchasing an additional 23,652 shares in the last quarter. Jump Financial LLC raised its holdings in shares of JinkoSolar by 573.2% in the 1st quarter. Jump Financial LLC now owns 54,176 shares of the semiconductor company's stock worth $1,010,000 after purchasing an additional 46,129 shares in the last quarter. Harvest Portfolios Group Inc. bought a new stake in shares of JinkoSolar in the 1st quarter worth approximately $269,000. Finally, Aberdeen Group plc raised its holdings in shares of JinkoSolar by 63.6% in the 1st quarter. Aberdeen Group plc now owns 78,065 shares of the semiconductor company's stock worth $1,455,000 after purchasing an additional 30,340 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

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.

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