JinkoSolar (NYSE:JKS) Trading 8.9% Higher - Still a Buy?

Key Points

• JinkoSolar shares jumped 8.9% Wednesday to $22.30 on lighter-than-average volume, but the stock is trading below its 50-day ($24.84) and 200-day ($25.72) moving averages.
• Analyst sentiment is mixed: the consensus is a “Hold” with an average target of $24.50, and ratings range from one Strong Buy and one Buy to three Holds and three Sells.
• Institutional investors have been adding shares (Invesco up 15.4% to 1.6M shares), while the company shows a negative P/E (-1.92), a $1.19 billion market cap and a debt-to-equity ratio of 1.24, indicating leverage amid unprofitable results.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price traded up 8.9% during trading on Wednesday . The stock traded as high as $22.22 and last traded at $22.30. 483,186 shares changed hands during trading, a decline of 29% from the average session volume of 677,301 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research cut JinkoSolar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Wall Street Zen cut JinkoSolar from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Daiwa Securities Group raised JinkoSolar from a "sell" rating to a "buy" rating and set a $28.50 price objective on the stock in a research report on Tuesday, March 24th. Freedom Capital raised JinkoSolar from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Finally, Weiss Ratings cut JinkoSolar from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.50.

JinkoSolar Stock Performance

The business has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $25.72. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 1.24. The company has a market cap of $1.19 billion, a P/E ratio of -1.92 and a beta of 0.59.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise lifted its holdings in JinkoSolar by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company's stock valued at $78,000 after acquiring an additional 839 shares during the period. Invesco Ltd. lifted its holdings in JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company's stock valued at $41,406,000 after acquiring an additional 213,935 shares during the period. Mackenzie Financial Corp raised its stake in shares of JinkoSolar by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company's stock worth $36,289,000 after buying an additional 20,000 shares during the period. Progeny 3 Inc. raised its stake in shares of JinkoSolar by 22.2% in the fourth quarter. Progeny 3 Inc. now owns 119,000 shares of the semiconductor company's stock worth $3,071,000 after buying an additional 21,600 shares during the period. Finally, Man Group plc raised its stake in shares of JinkoSolar by 359.0% in the fourth quarter. Man Group plc now owns 62,884 shares of the semiconductor company's stock worth $1,623,000 after buying an additional 49,184 shares during the period. Institutional investors own 35.82% of the company's stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. NYSE: JKS is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world's largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar's product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.

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