Wall Street Zen Upgrades JinkoSolar (NYSE:JKS) to "Hold"

Key Points

• Wall Street Zen has upgraded JinkoSolar's rating from "sell" to "hold," indicating a more optimistic outlook on the company’s stock.
• JinkoSolar's stock price increased by 5.0%, reaching $25.47, and has a market capitalization of $1.31 billion.
• Institutional investors currently own 35.82% of JinkoSolar, with several firms recently acquiring new stakes in the company.

JinkoSolar (NYSE:JKS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

JinkoSolar Stock Up 5.0%

JKS stock opened at $25.47 on Friday. 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 stock has a market capitalization of $1.31 billion, a P/E ratio of -5.07 and a beta of 0.13. The business has a 50-day moving average of $23.13 and a 200-day moving average of $20.60. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $37.36.

Institutional Trading of JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MTM Investment Management LLC bought a new stake in JinkoSolar during the second quarter worth about $28,000. Banque Cantonale Vaudoise bought a new stake in JinkoSolar during the first quarter worth about $36,000. Raymond James Financial Inc. bought a new stake in JinkoSolar during the second quarter worth about $47,000. Geode Capital Management LLC raised its holdings in JinkoSolar by 9.9% during the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company's stock worth $799,000 after acquiring an additional 3,394 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in JinkoSolar by 18.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company's stock worth $498,000 after acquiring an additional 3,608 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.