JinkoSolar (NYSE:JKS) Stock Price Up 9.4% – Still a Buy?

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price rose 9.4% during trading on Friday . The company traded as high as $28.00 and last traded at $28.2340. Approximately 142,305 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 509,346 shares. The stock had previously closed at $25.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JKS. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. The Goldman Sachs Group increased their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Wednesday, November 19th. Finally, Roth Capital lifted their target price on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Three equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of $19.49.

JinkoSolar Stock Up 8.0%

The company’s 50 day moving average price is $26.32 and its two-hundred day moving average price is $24.33. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.44 billion, a P/E ratio of -3.05 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. Equities analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

Institutional Trading of JinkoSolar

Several hedge funds have recently bought and sold shares of JKS. Acadian Asset Management LLC grew its stake in shares of JinkoSolar by 41.2% during the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock valued at $7,220,000 after acquiring an additional 113,187 shares during the period. Public Employees Retirement System of Ohio raised its stake in JinkoSolar by 51.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after acquiring an additional 11,500 shares during the period. XTX Topco Ltd purchased a new position in JinkoSolar during the second quarter valued at approximately $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of JinkoSolar by 18.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after purchasing an additional 3,608 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of JinkoSolar by 5.3% in the third quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 937 shares in the last quarter. 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.