JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares dropped 2.9% during trading on Tuesday . The stock traded as low as $15.92 and last traded at $15.80. Approximately 205,148 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 813,411 shares. The stock had previously closed at $16.28.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on JKS shares. UBS Group dropped their price target on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Glj Research dropped their target price on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a report on Thursday, January 23rd. Daiwa Capital Markets downgraded shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research report on Friday, January 10th. Finally, The Goldman Sachs Group lowered 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, March 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.19.
View Our Latest Stock Analysis on JinkoSolar
JinkoSolar Price Performance
The business has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $22.84. The company has a market capitalization of $763.89 million, a P/E ratio of 24.36 and a beta of 0.17. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.
JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings data 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 net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company's revenue for the quarter was down 37.1% compared to the same quarter last year. Analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.
Institutional Trading of JinkoSolar
Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of JinkoSolar in the fourth quarter worth $1,435,000. State Street Corp grew its position in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock valued at $18,687,000 after buying an additional 67,223 shares in the last quarter. Himension Capital Singapore PTE. LTD. grew its position in JinkoSolar by 472.8% in the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock valued at $1,374,000 after buying an additional 45,542 shares in the last quarter. Bank of New York Mellon Corp increased its stake in JinkoSolar by 245.8% during the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock valued at $1,032,000 after buying an additional 29,459 shares during the period. Finally, Pictet Asset Management Holding SA bought a new stake in shares of JinkoSolar during the 4th quarter worth about $5,948,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.
About JinkoSolar
(
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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.
Further Reading
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