JinkoSolar (NYSE:JKS) Stock Price Up 7.3% – Here’s Why

JinkoSolar Holding Company Limited (NYSE:JKS) traded up 7.3% on Friday . The stock traded as high as $20.12 and last traded at $19.91. 311,415 shares traded hands during trading, a decline of 57% from the average session volume of 722,555 shares. The stock had previously closed at $18.56.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. UBS Group raised their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. Finally, Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.38.

JinkoSolar Stock Up 6.7%

The company’s fifty day moving average price is $22.80 and its 200-day moving average price is $25.12. The stock has a market capitalization of $1.04 billion, a PE ratio of -2.03 and a beta of 0.52. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.09 billion. Analysts forecast that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00. Following the completion of the sale, the director directly owned 186,000 shares in the company, valued at approximately $4,856,460. The trade was a 7.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Xianhua Li sold 1,280,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the sale, the director owned 10,349,612 shares of the company’s stock, valued at approximately $264,225,594.36. This represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.80% of the stock is currently owned by insiders.

Institutional Trading of JinkoSolar

Hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its position in shares of JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 839 shares in the last quarter. Trexquant Investment LP raised its position in shares of JinkoSolar by 2.1% during the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock valued at $1,094,000 after buying an additional 889 shares in the last quarter. Profund Advisors LLC raised its position in shares of JinkoSolar by 5.3% during the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 937 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of JinkoSolar by 7.7% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 1,219 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of JinkoSolar during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.