Smith Asset Management Group LP raised its stake in JA Solar Holdings Co. (NASDAQ:JASO) by 87.9% during the second quarter, Holdings Channel reports. The institutional investor owned 37,720 shares of the company’s stock after buying an additional 17,650 shares during the period. Smith Asset Management Group LP’s holdings in JA Solar Holdings were worth $258,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of JASO. Boothbay Fund Management LLC acquired a new position in JA Solar Holdings during the first quarter valued at $102,000. Bank of Montreal Can acquired a new position in JA Solar Holdings during the second quarter valued at $109,000. Royal Bank of Canada increased its position in JA Solar Holdings by 5,505.3% in the first quarter. Royal Bank of Canada now owns 16,816 shares of the company’s stock valued at $146,000 after buying an additional 16,516 shares in the last quarter. Sensato Investors LLC acquired a new position in JA Solar Holdings during the first quarter valued at $871,000. Finally, Shah Capital Management acquired a new position in JA Solar Holdings during the second quarter valued at $3,014,000. 31.65% of the stock is currently owned by hedge funds and other institutional investors.
JA Solar Holdings Co. (NASDAQ:JASO) traded up 2.19% during midday trading on Tuesday, reaching $6.06. 406,337 shares of the company traded hands. JA Solar Holdings Co. has a 12 month low of $5.66 and a 12 month high of $10.09. The company’s 50-day moving average price is $7.04 and its 200 day moving average price is $7.65. The firm has a market capitalization of $283.96 million, a PE ratio of 3.00 and a beta of 2.45.
JA Solar Holdings (NASDAQ:JASO) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.38. JA Solar Holdings had a return on equity of 11.39% and a net margin of 4.85%. The company had revenue of $619 million for the quarter. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that JA Solar Holdings Co. will post $0.82 earnings per share for the current year.
Several equities analysts have recently weighed in on the stock. Roth Capital downgraded shares of JA Solar Holdings from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.00 to $8.00 in a research note on Friday, June 3rd. Zacks Investment Research cut shares of JA Solar Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 7th. Finally, Credit Suisse Group AG set a $9.70 price objective on shares of JA Solar Holdings and gave the stock a “hold” rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.49.
About JA Solar Holdings
JA Solar Holdings Co, Ltd. is a holding company. The Company designs, develops, manufactures and sells solar power products that convert sunlight into electricity for a range of uses. The Company is engaged in manufacturing and selling solar modules, as well as silicon wafer manufacturing. The Company operates through two segments, including manufacturing and solar projects.
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