JinkoSolar (NYSE:JKS) Shares Gap Up – Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.70, but opened at $21.35. JinkoSolar shares last traded at $22.32, with a volume of 697,547 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on JKS. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday. UBS Group dropped their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Glj Research decreased their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Down 2.0 %

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 34.10 and a beta of 0.40. The firm’s 50-day moving average price is $21.78 and its 200 day moving average price is $23.13.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The business had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was down 37.1% on a year-over-year basis. On average, sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in shares of JinkoSolar by 42.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company’s stock valued at $1,229,000 after purchasing an additional 14,765 shares during the last quarter. Twinbeech Capital LP lifted its stake in JinkoSolar by 219.9% in the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 17,846 shares during the last quarter. Millennium Management LLC acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JinkoSolar by 85.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after buying an additional 3,998 shares during the last quarter. Finally, CoreCommodity Management LLC increased its holdings in shares of JinkoSolar by 1.1% during the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.