JinkoSolar (NYSE:JKS) Shares Gap Down to $21.47

JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down before the market opened on Friday . The stock had previously closed at $21.47, but opened at $21.01. JinkoSolar shares last traded at $21.32, with a volume of 78,659 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, April 11th. Roth Mkm reaffirmed a “neutral” rating and set a $25.00 price objective on shares of JinkoSolar in a research report on Tuesday, April 30th. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. UBS Group lowered their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Finally, Roth Capital downgraded JinkoSolar from a “buy” rating to a “neutral” rating in a report on Thursday, March 21st. 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.60.

JinkoSolar Price Performance

The company has a 50 day moving average of $25.03 and a 200 day moving average of $26.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 3.23 and a beta of 0.44.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.83. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.27 billion. As a group, equities research analysts anticipate that JinkoSolar Holding Co., Ltd. will post 4.03 EPS for the current year.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners acquired a new stake in JinkoSolar during the first quarter worth approximately $575,000. Tidal Investments LLC raised its stake in JinkoSolar by 4.0% during the 1st quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock worth $545,000 after acquiring an additional 825 shares in the last quarter. Vanguard Group Inc. lifted its position in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock valued at $40,080,000 after acquiring an additional 14,491 shares during the last quarter. Banco BTG Pactual S.A. acquired a new position in JinkoSolar in the first quarter valued at $207,000. Finally, GSA Capital Partners LLP grew its holdings in shares of JinkoSolar by 372.9% during the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock worth $1,948,000 after purchasing an additional 60,992 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.