JinkoSolar (NYSE:JKS) Trading Up 10% – Time to Buy?
by Danessa Lincoln · The Markets DailyJinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report)’s stock price rose 10% during mid-day trading on Monday . The stock traded as high as $29.70 and last traded at $29.8230. Approximately 402,704 shares traded hands during trading, a decline of 35% from the average daily volume of 619,129 shares. The stock had previously closed at $27.12.
Wall Street Analysts Forecast Growth
JKS has been the subject of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. The Goldman Sachs Group raised their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Wednesday, November 19th. Roth Capital upped their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday. Finally, UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JinkoSolar has a consensus rating of “Reduce” and a consensus price target of $19.49.
Check Out Our Latest Analysis on JinkoSolar
JinkoSolar Price Performance
The company has a 50-day moving average of $26.75 and a two-hundred day moving average of $24.63. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02. The stock has a market capitalization of $1.51 billion, a PE ratio of -3.19 and a beta of 0.52.
JinkoSolar (NYSE:JKS – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. Sell-side analysts predict that JinkoSolar Holding Company Limited will post -0.24 EPS for the current fiscal year.
Institutional Trading of JinkoSolar
A number of institutional investors and hedge funds have recently bought and sold shares of JKS. Invesco Ltd. lifted its position in JinkoSolar by 6.7% during the third quarter. Invesco Ltd. now owns 1,390,315 shares of the semiconductor company’s stock valued at $33,409,000 after buying an additional 87,334 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of JinkoSolar by 189.9% in the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after acquiring an additional 127,234 shares during the period. Progeny 3 Inc. acquired a new position in shares of JinkoSolar during the 3rd quarter valued at $2,341,000. Millennium Management LLC purchased a new stake in JinkoSolar during the 3rd quarter worth $1,765,000. Finally, XTX Topco Ltd acquired a new stake in JinkoSolar in the 2nd quarter valued at $1,160,000. Institutional investors and hedge funds 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.