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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up before the market opened on Tuesday . The stock had previously closed at $24.70, but opened at $25.30. JinkoSolar shares last traded at $26.10, with a volume of 881,082 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JKS shares. Roth Mkm decreased their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. The Goldman Sachs Group lowered their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd. Finally, StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Stock Up 7.9 %

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 45.20 and a beta of 0.35. The stock has a fifty day moving average of $23.48 and a two-hundred day moving average of $22.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. Sell-side analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in shares of JinkoSolar by 1.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after buying an additional 44,661 shares in the last quarter. Vanguard Group Inc. increased its stake in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock valued at $40,080,000 after purchasing an additional 14,491 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of JinkoSolar by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares during the period. State Street Corp boosted its position in shares of JinkoSolar by 10.7% during the 3rd 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 in the last quarter. Finally, Marshall Wace LLP increased its position in JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 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.