JinkoSolar (NYSE:JKS) Trading Up 5% – Time to Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) rose 5% during trading on Wednesday . The stock traded as high as $23.10 and last traded at $22.93. Approximately 76,677 shares changed hands during trading, a decline of 93% from the average daily volume of 1,060,591 shares. The stock had previously closed at $21.83.

Wall Street Analyst Weigh In

JKS has been the subject of several recent research reports. Roth Mkm lowered their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. The Goldman Sachs Group dropped their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Stock Up 2.4 %

The stock has a market capitalization of $1.19 billion, a P/E ratio of 38.37 and a beta of 0.44. The business has a 50-day simple moving average of $23.23 and a two-hundred day simple moving average of $22.42. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.05 by $0.92. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Equities research analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 647 shares during the last quarter. Barclays PLC grew its holdings in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. Headlands Technologies LLC raised its position in JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after acquiring an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds 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.