JinkoSolar Holding Co. (JKS) Sees Strong Trading Volume
JinkoSolar Holding Co. (NYSE:JKS) saw an uptick in trading volume on Thursday . 328,627 shares were traded during trading, a decline of 1% from the previous session’s volume of 330,976 shares.The stock last traded at $19.86 and had previously closed at $18.82.
JKS has been the topic of a number of research reports. Roth Capital restated a “buy” rating and issued a $30.00 price objective (down previously from $35.00) on shares of JinkoSolar Holding in a report on Sunday, June 5th. Zacks Investment Research lowered JinkoSolar Holding from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Credit Suisse Group AG decreased their price objective on JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday. Morgan Stanley set a $27.20 price objective on JinkoSolar Holding and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. upgraded JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a report on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.28.
The stock has a 50 day moving average price of $19.09 and a 200 day moving average price of $20.77. The company has a market capitalization of $616.15 million and a price-to-earnings ratio of 4.44.
JinkoSolar Holding (NYSE:JKS) last released its earnings results on Friday, May 27th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.85. The company earned $847.80 million during the quarter. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 91.2% on a year-over-year basis. On average, analysts anticipate that JinkoSolar Holding Co. will post $4.37 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in JinkoSolar Holding stock. Russell Frank Co increased its position in shares of JinkoSolar Holding Co. (NYSE:JKS) by 1,495.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,900 shares of the company’s stock after buying an additional 92,700 shares during the period. Russell Frank Co owned about 0.32% of JinkoSolar Holding worth $2,751,000 as of its most recent SEC filing.
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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