JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $55.55, but opened at $58.00. JinkoSolar shares last traded at $56.99, with a volume of 2,049 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JKS. TheStreet upgraded shares of JinkoSolar from a "d+" rating to a "c" rating in a report on Friday, October 28th. HSBC began coverage on shares of JinkoSolar in a report on Wednesday, September 28th. They issued a "buy" rating and a $76.00 price target on the stock. Roth Capital upgraded shares of JinkoSolar from a "neutral" rating to a "buy" rating and lifted their price target for the company from $50.00 to $70.00 in a report on Wednesday, January 11th. Finally, StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a report on Friday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.25.

JinkoSolar Stock Performance

The stock's 50 day moving average price is $48.87 and its 200 day moving average price is $54.15. The company has a current ratio of 1.09, a quick ratio of 0.77 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.84 billion, a PE ratio of -246.38 and a beta of 0.74.

Institutional Investors Weigh In On JinkoSolar

Large investors have recently added to or reduced their stakes in the company. Toroso Investments LLC acquired a new position in JinkoSolar during the 3rd quarter worth $35,000. Quadrant Capital Group LLC grew its holdings in JinkoSolar by 98.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 690 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 343 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in JinkoSolar during the 2nd quarter worth $55,000. Wipfli Financial Advisors LLC acquired a new position in JinkoSolar during the 3rd quarter worth $89,000. Finally, US Bancorp DE boosted its holdings in shares of JinkoSolar by 25.0% in the 3rd quarter. US Bancorp DE now owns 2,680 shares of the semiconductor company's stock valued at $148,000 after buying an additional 536 shares during the period.

About JinkoSolar

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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; and develops commercial solar power projects.

Further Reading

• Get a free copy of the StockNews.com research report on JinkoSolar (JKS)
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