JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price fell 9.7% during mid-day trading on Thursday . The stock traded as low as $70.91 and last traded at $72.21. 4,064,946 shares changed hands during trading, an increase of 25% from the average session volume of 3,261,474 shares. The stock had previously closed at $79.96.
Several brokerages recently issued reports on JKS. Zacks Investment Research lowered JinkoSolar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 9th. UBS Group lowered JinkoSolar from a “neutral” rating to a “sell” rating in a research report on Tuesday, October 27th. BidaskClub raised JinkoSolar from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. ValuEngine raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Thursday, October 1st. Finally, Roth Capital upped their target price on JinkoSolar from $37.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, December 14th. Three analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.22.
The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.04. The company has a 50 day simple moving average of $63.61 and a two-hundred day simple moving average of $38.30. The firm has a market cap of $3.18 billion, a PE ratio of 53.02 and a beta of 1.11.
JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Sunday, December 6th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.21. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. JinkoSolar had a return on equity of 7.53% and a net margin of 2.75%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, research analysts predict that JinkoSolar Holding Co., Ltd. will post 2.94 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of JinkoSolar by 23.1% in the second quarter. Bank of Montreal Can now owns 3,775 shares of the semiconductor company’s stock worth $83,000 after buying an additional 708 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of JinkoSolar in the third quarter worth about $161,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of JinkoSolar in the third quarter worth about $211,000. WINTON GROUP Ltd purchased a new stake in shares of JinkoSolar in the third quarter worth about $218,000. Finally, Wealth Architects LLC purchased a new stake in shares of JinkoSolar in the third quarter worth about $230,000. Hedge funds and other institutional investors own 57.47% 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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