JinkoSolar (NYSE:JKS) Stock Price Up 9.5% – What’s Next?

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

Analysts Set New Price Targets

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

JinkoSolar Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm’s 50-day moving average is $20.48 and its two-hundred day moving average is $22.75. The company has a market cap of $834.48 million, a P/E ratio of 26.61 and a beta of 0.17.

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

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after buying an additional 67,223 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of JinkoSolar in the third quarter valued at $928,000. Barclays PLC lifted its holdings in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of JinkoSolar by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock worth $1,197,000 after purchasing an additional 7,333 shares during the period. Finally, Green Alpha Advisors LLC boosted its stake in shares of JinkoSolar by 15.4% during the 4th quarter. Green Alpha Advisors LLC now owns 82,531 shares of the semiconductor company’s stock worth $2,055,000 after purchasing an additional 10,983 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.