JinkoSolar (NYSE:JKS) Trading Up 9.5% – Here’s Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price rose 9.5% during trading on Monday . The company traded as high as $16.24 and last traded at $15.80. Approximately 330,498 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 1,058,196 shares. The stock had previously closed at $14.42.

Wall Street Analysts Forecast Growth

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

JinkoSolar Stock Up 11.1 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm has a market cap of $851.54 million, a price-to-earnings ratio of 27.15 and a beta of 0.17. The business’s 50-day moving average is $20.70 and its 200-day moving average is $22.86.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data 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 firm had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company posted $0.54 EPS. The firm’s quarterly revenue was down 37.1% compared to the same quarter last year. On average, equities analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in JinkoSolar in the fourth quarter valued at about $1,435,000. State Street Corp raised its position in shares of JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after acquiring an additional 67,223 shares during the period. Himension Capital Singapore PTE. LTD. boosted its stake in JinkoSolar by 472.8% during the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company’s stock worth $1,374,000 after acquiring an additional 45,542 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in JinkoSolar by 245.8% during the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock valued at $1,032,000 after purchasing an additional 29,459 shares during the period. Finally, Pictet Asset Management Holding SA bought a new stake in JinkoSolar in the fourth quarter valued at approximately $5,948,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

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.