Prudential Financial Inc. raised its stake in JA Solar Holdings Co. (NASDAQ:JASO) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 835,900 shares of the company’s stock after buying an additional 31,400 shares during the period. Prudential Financial Inc. owned 1.78% of JA Solar Holdings worth $5,726,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Boothbay Fund Management LLC purchased a new stake in shares of JA Solar Holdings during the first quarter worth approximately $102,000. Bank of Montreal Can purchased a new stake in shares of JA Solar Holdings during the second quarter worth approximately $109,000. Royal Bank of Canada boosted its stake in shares of 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 worth $146,000 after buying an additional 16,516 shares in the last quarter. Smith Asset Management Group LP boosted its stake in shares of JA Solar Holdings by 87.9% in the second quarter. Smith Asset Management Group LP now owns 37,720 shares of the company’s stock worth $258,000 after buying an additional 17,650 shares in the last quarter. Finally, Tairen Capital Ltd purchased a new stake in shares of JA Solar Holdings during the second quarter worth approximately $343,000. Hedge funds and other institutional investors own 31.65% of the company’s stock.
JA Solar Holdings Co. (NASDAQ:JASO) opened at 6.58 on Wednesday. JA Solar Holdings Co. has a one year low of $5.66 and a one year high of $10.09. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $7.48. The firm has a market cap of $308.33 million, a PE ratio of 3.26 and a beta of 2.05.
JA Solar Holdings (NASDAQ:JASO) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.38. The firm earned $619 million during the quarter. JA Solar Holdings had a net margin of 4.85% and a return on equity of 11.39%. During the same period in the prior year, the firm posted $0.27 EPS. Equities research analysts expect that JA Solar Holdings Co. will post $0.82 EPS for the current year.
JASO has been the subject of a number of research reports. Axiom Securities raised JA Solar Holdings from a “sell” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Thursday, October 6th. Credit Suisse Group AG set a $9.70 price target on JA Solar Holdings and gave the stock a “hold” rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.62.
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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