JA Solar Holdings Co. (JASO) Shares Up 8.2%
Shares of JA Solar Holdings Co. (NASDAQ:JASO) shot up 8.2% during mid-day trading on Monday . The company traded as high as $7.75 and last traded at $7.56, with a volume of 1,191,037 shares traded. The stock had previously closed at $6.99.
A number of brokerages have recently issued reports on JASO. Roth Capital cut shares of JA Solar Holdings from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $12.00 to $8.00 in a research note on Friday, June 3rd. Axiom Securities reissued a “sell” rating on shares of JA Solar Holdings in a research note on Saturday, April 23rd. Finally, Zacks Investment Research cut shares of JA Solar Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.59.
The firm’s 50-day moving average is $6.87 and its 200-day moving average is $8.13. The company has a market capitalization of $356.12 million and a P/E ratio of 3.95.
JA Solar Holdings (NASDAQ:JASO) last released its earnings results on Friday, May 27th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company had revenue of $538.10 million for the quarter. Equities analysts predict that JA Solar Holdings Co. will post $1.64 EPS for the current fiscal year.
Other hedge funds have made changes to their positions in the company. Russell Frank Co boosted its stake in shares of JA Solar Holdings by 1,564.3% in the fourth quarter. Russell Frank Co now owns 307,900 shares of the company’s stock valued at $2,951,000 after buying an additional 289,400 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of JA Solar Holdings during the fourth quarter valued at approximately $1,369,000. Morgan Stanley boosted its stake in shares of JA Solar Holdings by 65.7% in the fourth quarter. Morgan Stanley now owns 1,144,199 shares of the company’s stock valued at $11,099,000 after buying an additional 453,579 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of JA Solar Holdings by 19.0% in the fourth quarter. California Public Employees Retirement System now owns 310,759 shares of the company’s stock valued at $3,014,000 after buying an additional 49,700 shares during the last quarter.
JA Solar Holdings Co, Ltd. is a holding company. The Company designs, develops, manufactures and sells solar power products that convert sunlight into electricity for a range of uses. The Company is engaged in manufacturing and selling solar modules, as well as silicon wafer manufacturing. The Company operates through two segments, including manufacturing and solar projects.
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