JinkoSolar (NYSE:JKS) Stock Price Up 6.7%

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Daiwa Capital Markets lowered shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, February 5th. Roth Mkm reiterated a “neutral” rating and set a $25.00 price objective (down previously from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. UBS Group reduced their price objective on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group cut their price target on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, April 11th. Finally, StockNews.com lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average target price of $26.60.

JinkoSolar Price Performance

The stock has a market capitalization of $1.20 billion, a PE ratio of 2.94 and a beta of 0.37. The stock’s fifty day moving average is $25.26 and its 200-day moving average is $29.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81.

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

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of JKS. Ronald Blue Trust Inc. increased its stake in JinkoSolar by 280.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 1,069 shares during the period. SG Americas Securities LLC increased its stake in JinkoSolar by 344.2% in the 3rd quarter. SG Americas Securities LLC now owns 82,482 shares of the semiconductor company’s stock valued at $2,505,000 after buying an additional 63,913 shares during the period. Bank of New York Mellon Corp increased its stake in JinkoSolar by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 65,392 shares of the semiconductor company’s stock valued at $1,986,000 after buying an additional 6,299 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased 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 valued at $94,000 after buying an additional 1,678 shares during the period. Finally, Mackenzie Financial Corp increased its stake in JinkoSolar by 22.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after buying an additional 493,976 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

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; and develops commercial solar power projects.