JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) shares passed above its fifty day moving average during trading on Tuesday after Freedom Broker upgraded the stock from a hold rating to a buy rating. The stock has a fifty day moving average of $10.10 and traded as high as $10.24. JinkoSolar shares last traded at $10.1260, with a volume of 1,178,828 shares traded.
Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded JinkoSolar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 26th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Friday. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday, August 27th. Zacks Research upgraded JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Finally, Roth Capital cut their target price on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.38.
Institutional Investors Weigh In On JinkoSolar
A number of institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new position in JinkoSolar in the second quarter worth $298,000. Renaissance Technologies LLC grew its stake in JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares during the period. Cetera Investment Advisers purchased a new stake in shares of JinkoSolar during the 1st quarter valued at $307,000. Himension Capital Singapore PTE. LTD. increased its position in shares of JinkoSolar by 5.1% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after purchasing an additional 3,118 shares during the period. 35.82% of the stock is owned by institutional investors.
JinkoSolar Stock Up 7.6%
The company has a market capitalization of $537.69 million, a P/E ratio of -1.30 and a beta of 0.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The stock has a 50 day moving average price of $10.10 and a 200 day moving average price of $18.88.
JinkoSolar (NYSE:JKS – Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.11) by $2.08. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. Equities research analysts forecast that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current fiscal year.
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.
Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.
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