JinkoSolar (NYSE:JKS) Sees Strong Trading Volume

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Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw unusually-high trading volume on Tuesday . Approximately 3,743,217 shares were traded during mid-day trading, an increase of 308% from the previous session’s volume of 917,548 shares.The stock last traded at $16.44 and had previously closed at $14.87.

JKS has been the topic of several recent analyst reports. Credit Suisse Group lifted their price target on shares of JinkoSolar from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. ValuEngine cut shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised JinkoSolar from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.50.

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.95 and a quick ratio of 0.73. The firm has a market cap of $739.37 million, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.25 and a beta of 1.87. The firm has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $19.09.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $931.74 million. JinkoSolar had a net margin of 1.72% and a return on equity of 5.36%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post 3 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group lifted its position in JinkoSolar by 55.8% during the second quarter. Schroder Investment Management Group now owns 4,864,074 shares of the semiconductor company’s stock valued at $105,502,000 after buying an additional 1,742,632 shares during the period. Bank of America Corp DE raised its position in shares of JinkoSolar by 27,565.2% in the 2nd quarter. Bank of America Corp DE now owns 1,680,106 shares of the semiconductor company’s stock worth $36,442,000 after purchasing an additional 1,674,033 shares during the last quarter. Vanguard Group Inc. raised its position in shares of JinkoSolar by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 978,729 shares of the semiconductor company’s stock worth $21,229,000 after purchasing an additional 26,801 shares during the last quarter. BlackRock Inc. raised its position in shares of JinkoSolar by 194.1% in the 2nd quarter. BlackRock Inc. now owns 934,613 shares of the semiconductor company’s stock worth $20,272,000 after purchasing an additional 616,851 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of JinkoSolar by 2,188.8% in the 2nd quarter. Morgan Stanley now owns 878,363 shares of the semiconductor company’s stock worth $19,052,000 after purchasing an additional 839,986 shares during the last quarter. 48.16% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Company Profile (NYSE:JKS)

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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