AI Squared Management Ltd Purchases Shares of 93,800 JinkoSolar Holding Co., Ltd. (NYSE:JKS)

AI Squared Management Ltd purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 93,800 shares of the semiconductor company’s stock, valued at approximately $2,336,000. JinkoSolar comprises approximately 2.4% of AI Squared Management Ltd’s holdings, making the stock its 13th largest holding.

Several other hedge funds have also bought and sold shares of the business. Cornerstone Investment Partners LLC bought a new position in JinkoSolar during the 4th quarter valued at $231,000. SBI Securities Co. Ltd. bought a new position in shares of JinkoSolar during the 4th quarter worth $119,000. Capital Wealth Planning LLC bought a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $752,000. Bank of New York Mellon Corp lifted its position in shares of JinkoSolar by 245.8% during the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock worth $1,032,000 after acquiring an additional 29,459 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of JinkoSolar during the 4th quarter valued at $132,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on JKS. Jefferies Financial Group lifted their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, Glj Research cut their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, JinkoSolar has an average rating of “Hold” and a consensus target price of $28.49.

JinkoSolar Price Performance

Shares of JinkoSolar stock opened at $21.07 on Tuesday. The business’s 50-day moving average price is $21.96 and its 200-day moving average price is $23.15. The firm has a market capitalization of $1.12 billion, a PE ratio of 35.71 and a beta of 0.40. JinkoSolar Holding Co., Ltd. has a 12 month low of $16.70 and a 12 month high of $37.36. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

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.