JinkoSolar (NYSE:JKS) Shares Up 11%

JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) shares shot up 11% during trading on Tuesday . The stock traded as high as $62.85 and last traded at $62.25. 45,582 shares traded hands during trading, a decline of 96% from the average session volume of 1,165,494 shares. The stock had previously closed at $56.07.

Several brokerages have commented on JKS. UBS Group boosted their price objective on shares of JinkoSolar from $44.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 24th. StockNews.com initiated coverage on shares of JinkoSolar in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Roth Capital reiterated a “neutral” rating on shares of JinkoSolar in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $49.53.

The firm’s fifty day moving average price is $55.68 and its 200-day moving average price is $49.48. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 69.44 and a beta of 0.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.16 and a quick ratio of 0.86.

JinkoSolar (NYSE:JKS – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The semiconductor company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $1.96 billion. JinkoSolar had a net margin of 1.11% and a return on equity of 3.22%. On average, research analysts predict that JinkoSolar Holding Co., Ltd. will post 2.79 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of JinkoSolar by 340.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 550 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 425 shares during the period. Counterpoint Mutual Funds LLC bought a new position in JinkoSolar in the 4th quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in JinkoSolar in the 1st quarter valued at about $64,000. National Bank of Canada FI bought a new position in JinkoSolar in the 4th quarter valued at about $67,000. Finally, Daiwa Securities Group Inc. purchased a new stake in JinkoSolar in the 1st quarter valued at about $145,000. Institutional investors own 62.74% of the company’s stock.

JinkoSolar Company Profile (NYSE:JKS)

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.

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