JinkoSolar (NYSE:JKS) Stock Price Up 4.8%

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded up 4.8% during mid-day trading on Friday . The company traded as high as $22.89 and last traded at $22.85. 497,291 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 894,881 shares. The stock had previously closed at $21.81.

Wall Street Analysts Forecast Growth

JKS has been the subject of several research reports. Roth Capital downgraded JinkoSolar from a “buy” rating to a “neutral” rating in a report on Thursday, March 21st. Roth Mkm restated a “neutral” rating and issued a $25.00 price target on shares of JinkoSolar in a research note on Tuesday, April 30th. UBS Group reduced their price objective on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. The Goldman Sachs Group dropped their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, April 11th. Finally, StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.60.

JinkoSolar Price Performance

The stock has a market capitalization of $1.22 billion, a P/E ratio of 3.59 and a beta of 0.44. The business has a fifty day simple moving average of $25.13 and a 200-day simple moving average of $27.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.83. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.27 billion. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. Sell-side analysts expect that JinkoSolar Holding Co., Ltd. will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in JinkoSolar by 10.0% in the 3rd quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after buying an additional 150,262 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of JinkoSolar during the 3rd quarter valued at about $1,726,000. Vanguard Group Inc. grew its stake in JinkoSolar by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares in the last quarter. Trexquant Investment LP increased its stake in JinkoSolar by 257.5% in the third quarter. Trexquant Investment LP now owns 144,230 shares of the semiconductor company’s stock valued at $4,380,000 after acquiring an additional 103,883 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of JinkoSolar by 34.3% during the 4th quarter. SG Americas Securities LLC now owns 110,786 shares of the semiconductor company’s stock valued at $4,092,000 after purchasing an additional 28,304 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.