Noteworthy Price Action: Will JinkoSolar Holding Co., Ltd. Short Squeeze Soon?

Noteworthy Price Action: Will JinkoSolar Holding Co., Ltd. Short Squeeze Soon?

The stock of JinkoSolar Holding Co., Ltd. (NYSE:JKS) hit a new 52-week low and has $12.66 target or 14.00% below today’s $14.72 share price. The 5 months bearish chart indicates high risk for the $454.90M company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $12.66 price target is reached, the company will be worth $63.69M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 211,502 shares traded hands. JinkoSolar Holding Co., Ltd. (NYSE:JKS) has declined 24.50% since April 4, 2016 and is downtrending. It has underperformed by 25.59% the S&P500.

JinkoSolar Holding Co., Ltd. (NYSE:JKS) Ratings Coverage

Out of 4 analysts covering JinkoSolar Holding Co. (NYSE:JKS), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. JinkoSolar Holding Co. has been the topic of 7 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, August 5 by Roth Capital. The firm has “Outperform” rating given on Friday, December 18 by Northland Capital. The stock of JinkoSolar Holding Co., Ltd. (NYSE:JKS) earned “Buy” rating by TH Capital on Friday, November 20. The rating was maintained by Roth Capital on Friday, November 20 with “Buy”. The firm earned “Outperform” rating on Monday, March 21 by Credit Suisse. The firm earned “Buy” rating on Tuesday, August 25 by Roth Capital.

According to Zacks Investment Research, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia.”

More notable recent JinkoSolar Holding Co., Ltd. (NYSE:JKS) news were published by: Fool.com which released: “Why Shares of JinkoSolar Holding Co., Ltd. Plunged 14% in September” on October 06, 2016, also Fool.com with their article: “Why Shares of JinkoSolar Holding Co., Ltd. Plunged 13% in March” published on April 07, 2016, Prnewswire.com published: “JinkoSolar Attends B20 Summit in Hangzhou” on September 02, 2016. More interesting news about JinkoSolar Holding Co., Ltd. (NYSE:JKS) were released by: Prnewswire.com and their article: “JinkoSolar Appointed Co-Chair of the B20 ECRE Taskforce” published on October 24, 2016 as well as Schaeffersresearch.com‘s news article titled: “Buzz Stocks: Aerie Pharmaceuticals Inc, JinkoSolar Holding Co., Ltd., and …” with publication date: September 15, 2016.

JKS Company Profile

JinkoSolar Holding Co., Ltd., incorporated on August 3, 2007, operates in the photovoltaic (PV) industry. The Firm has a vertically integrated solar power product value chain, ranging from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s divisions are the manufacturing segment and the solar power projects segment. The manufacturing segment comprises its vertically integrated solar power product manufacturing business, under which the Company makes silicon ingots, wafers, cells and solar modules. The solar power projects segment comprises the downstream solar power generation, construction and operation business, including power generation; engineering, procurement and construction (EPC), and connecting solar power projects to the grid, and operation and maintenance (O&M) of the solar power projects. The Firm sells its solar modules under the JinkoSolar brand.

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