JinkoSolar (NYSE:JKS) Stock Price Up 7.9% - What's Next?

Key Points

• JinkoSolar's stock price rose by 7.9% to $26.04, with a notable decline in trading volume, down 72% from its average session volume.
• Analyst ratings show a mixed sentiment, with one Buy rating, one Hold rating, and four Sell ratings, leading to a consensus rating of "Reduce" and an average target price of $28.99.
• Institutional investors currently hold 35.82% of JinkoSolar's stock, with significant recent acquisitions by firms like JPMorgan Chase & Co. and XTX Topco Ltd.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price shot up 7.9% during trading on Wednesday . The stock traded as high as $25.96 and last traded at $26.04. 209,949 shares traded hands during trading, a decline of 72% from the average session volume of 745,212 shares. The stock had previously closed at $24.12.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded JinkoSolar from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, JinkoSolar currently has a consensus rating of "Reduce" and an average target price of $28.99.

JinkoSolar Trading Up 7.1%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -5.14 and a beta of 0.13. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average of $23.42 and a two-hundred day moving average of $20.77.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of JinkoSolar during the 2nd quarter valued at $47,000. XTX Topco Ltd acquired a new position in shares of JinkoSolar in the 2nd quarter valued at $1,160,000. JPMorgan Chase & Co. grew its holdings in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company's stock valued at $235,000 after buying an additional 10,941 shares during the period. MTM Investment Management LLC acquired a new position in shares of JinkoSolar in the 2nd quarter valued at $28,000. Finally, Geode Capital Management LLC grew its holdings in shares of JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company's stock valued at $799,000 after buying an additional 3,394 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.

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