JinkoSolar (NYSE:JKS) Sees Strong Trading Volume – Time to Buy?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) saw unusually-strong trading volume on Tuesday . Approximately 1,135,298 shares were traded during mid-day trading, an increase of 50% from the previous session’s volume of 758,117 shares.The stock last traded at $29.4960 and had previously closed at $29.18.

Analyst Upgrades and Downgrades

JKS has been the subject of a number of research reports. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group increased their price objective on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Finally, Roth Capital raised their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, JinkoSolar currently has a consensus rating of “Reduce” and a consensus price target of $19.49.

JinkoSolar Stock Up 2.6%

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 firm has a fifty day moving average of $26.82 and a 200-day moving average of $24.69. The firm has a market cap of $1.55 billion, a P/E ratio of -3.27 and a beta of 0.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JKS. SG Americas Securities LLC increased its stake in shares of JinkoSolar by 189.9% during the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock worth $5,013,000 after purchasing an additional 127,234 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in JinkoSolar in the 3rd quarter valued at about $225,000. Progeny 3 Inc. bought a new position in JinkoSolar during the third quarter worth about $2,341,000. Millennium Management LLC acquired a new position in JinkoSolar during the third quarter worth approximately $1,765,000. Finally, Man Group plc bought a new stake in JinkoSolar in the third quarter valued at approximately $329,000. Institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.