JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) rose 7.3% on Friday . The stock traded as high as $20.12 and last traded at $19.91. Approximately 311,415 shares traded hands during trading, a decline of 57% from the average daily volume of 722,555 shares. The stock had previously closed at $18.56.
Analyst Upgrades and Downgrades
JKS has been the topic of several research analyst reports. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. UBS Group raised their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings lowered JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average target price of $24.38.
View Our Latest Research Report on JKS
JinkoSolar Stock Up 5.9%
JinkoSolar (NYSE:JKS – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. On average, sell-side analysts forecast that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.
Insider Buying and Selling
In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total value of $417,760.00. Following the completion of the sale, the director owned 186,000 shares in the company, valued at approximately $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Xianhua Li sold 1,280,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. 19.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On JinkoSolar
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in shares of JinkoSolar by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 839 shares during the period. Trexquant Investment LP increased its holdings in shares of JinkoSolar by 2.1% in the fourth quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock valued at $1,094,000 after purchasing an additional 889 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of JinkoSolar by 7.7% in the fourth 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 purchasing an additional 1,219 shares during the period. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the second quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of JinkoSolar by 18.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 2,700 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.
About JinkoSolar
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.
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