JinkoSolar (NYSE:JKS) Shares Gap Up to $24.40

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up before the market opened on Wednesday . The stock had previously closed at $24.40, but opened at $25.32. JinkoSolar shares last traded at $26.60, with a volume of 362,814 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on JKS. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. HSBC reissued a “hold” rating and set a $30.00 price target on shares of JinkoSolar in a research report on Monday, February 5th. Roth Capital downgraded JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Daiwa Capital Markets cut JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Monday, February 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $25.00 price objective on shares of JinkoSolar in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Price Performance

The firm has a market capitalization of $1.41 billion, a PE ratio of 4.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.77. The firm has a 50-day simple moving average of $24.40 and a 200-day simple moving average of $28.53.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.83. JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.27 billion. As a group, equities analysts forecast that JinkoSolar Holding Co., Ltd. will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in JinkoSolar during the third quarter valued at $31,000. Signaturefd LLC lifted its position in shares of JinkoSolar by 202.1% during the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 673 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of JinkoSolar during the 4th quarter valued at approximately $126,000. Daiwa Securities Group Inc. increased its holdings in JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Banco BTG Pactual S.A. bought a new stake in JinkoSolar during the 1st quarter worth approximately $207,000. Institutional investors 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.