JinkoSolar (NYSE:JKS) Shares Gap Up to $46.05

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $46.05, but opened at $48.00. JinkoSolar shares last traded at $48.79, with a volume of 30,184 shares.

Several research analysts have recently issued reports on JKS shares. Zacks Investment Research lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 14th. CIBC upgraded JinkoSolar from a “neutral” rating to a “sector outperform” rating and set a $66.10 price target on the stock in a research report on Thursday, December 2nd. CICC Research upgraded JinkoSolar from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 2nd. Roth Capital reduced their price target on JinkoSolar from $58.00 to $51.00 and set a “neutral” rating on the stock in a research report on Friday, September 17th. Finally, The Goldman Sachs Group raised their price objective on JinkoSolar from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Thursday, December 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average target price of $49.22.

The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -18.00 and a beta of 1.07. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $49.70 and a 200 day moving average of $50.80.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Tuesday, November 30th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. JinkoSolar had a return on equity of 2.78% and a net margin of 0.31%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted ($0.91) EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts forecast that JinkoSolar Holding Co., Ltd. will post 0.9 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKS. First Trust Advisors LP raised its stake in shares of JinkoSolar by 3.8% in the 1st quarter. First Trust Advisors LP now owns 27,780 shares of the semiconductor company’s stock valued at $500,000 after purchasing an additional 1,018 shares during the period. American Century Companies Inc. raised its stake in shares of JinkoSolar by 5.3% in the 2nd quarter. American Century Companies Inc. now owns 11,673 shares of the semiconductor company’s stock valued at $654,000 after purchasing an additional 591 shares during the period. Citigroup Inc. raised its stake in shares of JinkoSolar by 14.0% in the 2nd quarter. Citigroup Inc. now owns 274,976 shares of the semiconductor company’s stock valued at $15,405,000 after purchasing an additional 33,816 shares during the period. abrdn plc raised its stake in shares of JinkoSolar by 66.7% in the 2nd quarter. abrdn plc now owns 33,067 shares of the semiconductor company’s stock valued at $1,851,000 after purchasing an additional 13,231 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in shares of JinkoSolar in the second quarter valued at about $344,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile (NYSE:JKS)

JinkoSolar Holding Co, Ltd. manufactures innovative solar modules. It distributes solar products and sells its solutions and services to a diversified international utility, commercial and residential customer. 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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