JinkoSolar (NYSE:JKS) Shares Gap Up - Time to Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $18.64, but opened at $19.26. JinkoSolar shares last traded at $18.19, with a volume of 151,268 shares.

Analysts Set New Price Targets

Several research analysts recently commented on JKS shares. 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 lowered JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. UBS Group decreased their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group dropped their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Performance

The stock has a market cap of $834.00 million, a price-to-earnings ratio of 26.59 and a beta of 0.17. The firm has a fifty day simple moving average of $21.47 and a 200 day simple moving average of $23.09. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

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JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The firm had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm's revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. As a group, sell-side analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in JinkoSolar by 10.7% during the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock worth $18,687,000 after purchasing an additional 67,223 shares during the period. Pictet Asset Management Holding SA bought a new position in shares of JinkoSolar during the 4th quarter worth approximately $5,948,000. Balyasny Asset Management L.P. boosted its stake in JinkoSolar by 1,592.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock valued at $3,222,000 after buying an additional 121,740 shares in the last quarter. Millennium Management LLC bought a new stake in JinkoSolar in the fourth quarter valued at $2,846,000. Finally, Hsbc Holdings PLC raised its stake in JinkoSolar by 30.6% during the fourth quarter. Hsbc Holdings PLC now owns 102,523 shares of the semiconductor company's stock worth $2,553,000 after acquiring an additional 24,016 shares in the last quarter. Institutional investors own 35.82% of the company's stock.

About JinkoSolar

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.