JinkoSolar (NYSE:JKS) Trading Up 9.4% – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) shares traded up 9.4% during mid-day trading on Friday . The company traded as high as $28.00 and last traded at $28.2340. 142,305 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 509,346 shares. The stock had previously closed at $25.81.

Analyst Ratings Changes

Several research analysts have weighed in on JKS shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. The Goldman Sachs Group raised their target price on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Finally, Roth Capital lifted their price objective on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Three research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average price target of $19.49.

JinkoSolar Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $26.19 and a two-hundred day moving average price of $24.24. The stock has a market cap of $1.46 billion, a P/E ratio of -3.08 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last issued its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%.The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.72 billion. On average, sell-side analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently bought and sold shares of the stock. Nuveen LLC bought a new stake in JinkoSolar in the 1st quarter valued at $598,000. Acadian Asset Management LLC grew its position in shares of JinkoSolar by 41.2% during the first quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock valued at $7,220,000 after purchasing an additional 113,187 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of JinkoSolar by 51.3% in the second quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after purchasing an additional 11,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of JinkoSolar by 18.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after buying an additional 3,608 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in JinkoSolar by 9.9% during the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after buying an additional 3,394 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.