JinkoSolar (NYSE:JKS) Shares Gap Up – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) gapped up prior to trading on Wednesday . The stock had previously closed at $25.41, but opened at $28.89. JinkoSolar shares last traded at $28.9950, with a volume of 844,009 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JKS. Roth Mkm lifted their price objective on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. The Goldman Sachs Group upped their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday, November 19th. Wall Street Zen cut JinkoSolar from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. Finally, UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.33.

JinkoSolar Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $26.84 and its 200 day moving average is $25.13. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.96 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating the consensus estimate of ($2.56) by $0.26. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. On average, analysts predict that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKS. MTM Investment Management LLC purchased a new stake in shares of JinkoSolar during the second quarter worth about $28,000. Raymond James Financial Inc. purchased a new stake in JinkoSolar during the 2nd quarter worth approximately $47,000. New York State Common Retirement Fund acquired a new position in shares of JinkoSolar in the 3rd quarter valued at approximately $182,000. Cornerstone Investment Partners LLC bought a new position in JinkoSolar during the 4th quarter valued at $205,000. Finally, FNY Investment Advisers LLC acquired a new stake in JinkoSolar during the third quarter valued at approximately $225,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.