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

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $21.67, but opened at $21.00. JinkoSolar shares last traded at $21.20, with a volume of 169,328 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on JKS shares. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Roth Mkm reduced their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group dropped their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Stock Down 2.3 %

The business’s fifty day moving average price is $23.09 and its two-hundred day moving average price is $22.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm has a market capitalization of $1.13 billion, a P/E ratio of 36.78 and a beta of 0.44.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.92. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. Equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its stake in shares of JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares during the last quarter. Barclays PLC increased its stake in JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of JinkoSolar by 198.1% during the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock worth $212,000 after buying an additional 5,265 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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.