JinkoSolar Holding Co. (JKS) Sees Unusually-High Trading Volume
JinkoSolar Holding Co. (NYSE:JKS) saw an uptick in trading volume on Thursday . 328,627 shares changed hands during mid-day 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.
A number of brokerages have recently commented on JKS. Roth Capital downgraded shares of JinkoSolar Holding from a “buy” rating to a “neutral” rating and raised their target price for the company from $18.00 to $30.00 in a research note on Friday, August 5th. Morgan Stanley set a $27.20 target price on shares of JinkoSolar Holding and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of JinkoSolar Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Credit Suisse Group AG dropped their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. raised shares of JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a research note on Thursday, June 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. JinkoSolar Holding currently has a consensus rating of “Buy” and an average target price of $31.28.
The firm has a 50 day moving average of $19.11 and a 200-day moving average of $20.77. The company has a market capitalization of $621.48 million and a P/E ratio of 4.47.
JinkoSolar Holding (NYSE:JKS) last announced its quarterly earnings data on Friday, May 27th. The company reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.85. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The company had revenue of $847.80 million for the quarter. The business’s quarterly revenue was up 91.2% compared to the same quarter last year. On average, analysts forecast 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. The fund 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.