JinkoSolar (NYSE:JKS) Shares Gap Up – Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $18.64, but opened at $19.26. JinkoSolar shares last traded at $18.19, with a volume of 151,268 shares traded.

Analyst Upgrades and Downgrades

JKS has been the topic of a number of recent analyst reports. Glj Research cut their target price on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. UBS Group reduced their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group raised their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group dropped their price objective on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $27.19.

JinkoSolar Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average is $21.63 and its 200-day moving average is $23.16. The stock has a market cap of $992.40 million, a price-to-earnings ratio of 31.64 and a beta of 0.17.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. Equities research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its stake in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 537 shares in the last quarter. CoreCommodity Management LLC boosted its holdings in shares of JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in JinkoSolar by 5.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after purchasing an additional 1,028 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of JinkoSolar during the fourth quarter worth $55,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 3,998 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.