JinkoSolar (NYSE:JKS) Stock Price Up 6.3% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price traded up 6.3% during trading on Monday . The company traded as high as $17.00 and last traded at $16.71. 579,417 shares were traded during trading, a decline of 45% from the average session volume of 1,048,436 shares. The stock had previously closed at $15.72.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Glj Research cut their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. UBS Group dropped their price target on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group reduced their price target on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Finally, Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.19.

JinkoSolar Stock Up 3.7 %

The firm has a 50 day simple moving average of $21.38 and a two-hundred day simple moving average of $23.11. The stock has a market capitalization of $866.69 million, a P/E ratio of 27.64 and a beta of 0.17. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

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

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors have recently added to or reduced their stakes in JKS. CANADA LIFE ASSURANCE Co acquired a new stake in shares of JinkoSolar during the 4th quarter valued at $55,000. Barclays PLC boosted its stake in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of JinkoSolar during the fourth quarter worth about $119,000. New York State Common Retirement Fund bought a new stake in shares of JinkoSolar during the fourth quarter worth about $132,000. Finally, Jump Financial LLC acquired a new position in shares of JinkoSolar in the fourth quarter valued at approximately $200,000. 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.