JinkoSolar (NYSE:JKS) Trading Down 5.1% – Here’s What Happened

by · The Cerbat Gem

JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $24.39 and last traded at $24.2650. 131,793 shares traded hands during trading, a decline of 82% from the average session volume of 741,016 shares. The stock had previously closed at $25.58.

Analyst Upgrades and Downgrades

Several brokerages have commented on JKS. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday, November 19th. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Finally, Roth Capital increased their price target 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. Two research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $19.49.

Check Out Our Latest Analysis on JinkoSolar

JinkoSolar Price Performance

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -2.65 and a beta of 0.49. The company has a 50 day simple moving average of $25.04 and a 200-day simple moving average of $23.15. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07.

JinkoSolar (NYSE:JKS – Get Free Report) last posted its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.56) by $0.26. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. Research analysts expect that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC grew its position in shares of JinkoSolar by 5.3% in the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock valued at $448,000 after acquiring an additional 937 shares during the period. MTM Investment Management LLC bought a new position in JinkoSolar during the second quarter worth about $28,000. Raymond James Financial Inc. acquired a new position in JinkoSolar during the second quarter worth approximately $47,000. Geode Capital Management LLC raised its stake in JinkoSolar by 9.9% in the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after buying an additional 3,394 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted 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 valued at $498,000 after buying an additional 3,608 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

(Get Free Report)

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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.

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