Raymond James & Associates raised its stake in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) by 85.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,242 shares of the semiconductor company's stock after buying an additional 3,339 shares during the period. Raymond James & Associates' holdings in JinkoSolar were worth $401,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of JinkoSolar by 16.2% in the 1st quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company's stock valued at $127,123,000 after acquiring an additional 366,251 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 6.0% in the first quarter. Mackenzie Financial Corp now owns 1,467,955 shares of the semiconductor company's stock valued at $70,888,000 after purchasing an additional 83,672 shares during the period. Hhlr Advisors LTD. acquired a new stake in shares of JinkoSolar in the second quarter worth $78,894,000. Allianz Asset Management GmbH boosted its holdings in shares of JinkoSolar by 0.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,134,985 shares of the semiconductor company's stock worth $78,518,000 after buying an additional 3,632 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in JinkoSolar in the 2nd quarter valued at $45,887,000.
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JinkoSolar Price Performance
Shares of JKS stock opened at $56.39 on Friday. The stock has a 50 day moving average of $50.35 and a two-hundred day moving average of $53.54. 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 company has a market capitalization of $2.83 billion, a P/E ratio of -245.16 and a beta of 0.87. JinkoSolar Holding Co., Ltd. has a 12 month low of $35.41 and a 12 month high of $76.92.
Analyst Upgrades and Downgrades
JKS has been the subject of a number of recent analyst reports. StockNews.com raised JinkoSolar from a "sell" rating to a "hold" rating in a research report on Friday, October 21st. The Goldman Sachs Group lifted their price target on JinkoSolar from $38.00 to $41.00 in a research report on Monday. TheStreet raised JinkoSolar from a "d+" rating to a "c" rating in a research report on Friday, October 28th. Finally, Roth Capital raised shares of JinkoSolar from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $70.00 in a research report on Wednesday, January 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $59.75.
JinkoSolar Profile
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JinkoSolar Holding Co, Ltd. engages in the manufacture of solar modules. It distributes solar products and sells its solutions and services to a diversified international utility, commercial and residential customers. The company was founded by Xiande Li, Kangping Chen, and Xianhua Li on August 3, 2007 and is headquartered in Shangrao, China.
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