JinkoSolar (NYSE:JKS) Shares Gap Up to $24.14

JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up before the market opened on Monday . The stock had previously closed at $24.14, but opened at $25.33. JinkoSolar shares last traded at $23.70, with a volume of 317,293 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group cut 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. Roth Capital downgraded JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Daiwa Capital Markets cut JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Monday, February 5th. HSBC reissued a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research report on Monday, February 5th. Finally, The Goldman Sachs Group cut their price objective on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.60.

JinkoSolar Price Performance

The stock has a market cap of $1.32 billion, a P/E ratio of 3.08 and a beta of 0.37. The business’s fifty day moving average price is $24.99 and its 200 day moving average price is $29.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.80.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion. JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. Sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Signaturefd LLC increased its position in JinkoSolar by 202.1% during the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 673 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of JinkoSolar in the third quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in JinkoSolar by 109.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 1,678 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in shares of JinkoSolar during the 4th quarter valued at about $126,000. Finally, Van ECK Associates Corp grew its holdings in JinkoSolar by 16.0% in the 3rd quarter. Van ECK Associates Corp now owns 14,379 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 1,987 shares during the last quarter. Hedge funds and other 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.