JinkoSolar (NYSE:JKS) Stock Price Up 6.7%

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price rose 6.7% during mid-day trading on Tuesday . The stock traded as high as $23.38 and last traded at $23.29. Approximately 409,386 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 928,816 shares. The stock had previously closed at $21.82.

Analyst Upgrades and Downgrades

JKS has been the subject of several analyst reports. StockNews.com lowered JinkoSolar from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. Roth Mkm reiterated a “neutral” rating and issued a $25.00 target price (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. HSBC reiterated a “hold” rating and issued a $30.00 target price on shares of JinkoSolar in a research note on Monday, February 5th. UBS Group dropped their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Finally, Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.60.

JinkoSolar Trading Up 4.5 %

The company has a market cap of $1.20 billion, a price-to-earnings ratio of 2.94 and a beta of 0.37. The firm has a 50-day moving average price of $25.26 and a 200 day moving average price of $29.28. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. As a group, sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current year.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently modified their holdings of JKS. Mackenzie Financial Corp increased its position in JinkoSolar by 22.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after purchasing an additional 493,976 shares during the last quarter. Invesco Ltd. increased its holdings in shares of JinkoSolar by 10.0% during the 3rd quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after acquiring an additional 150,262 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of JinkoSolar by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock valued at $47,206,000 after acquiring an additional 27,438 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of JinkoSolar by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock valued at $24,445,000 after acquiring an additional 92,737 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of JinkoSolar by 44.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock valued at $19,276,000 after acquiring an additional 195,300 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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; and develops commercial solar power projects.