JinkoSolar (NYSE:JKS) Shares Up 5% – Time to Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shot up 5% during mid-day trading on Wednesday . The company traded as high as $23.10 and last traded at $22.93. 76,677 shares were traded during trading, a decline of 93% from the average session volume of 1,060,591 shares. The stock had previously closed at $21.83.

Analysts Set New Price Targets

JKS has been the topic of a number of analyst reports. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Roth Mkm lowered their price objective on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group cut their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. One equities 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, JinkoSolar presently has a consensus rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company has a market capitalization of $1.20 billion, a P/E ratio of 38.27 and a beta of 0.44. The firm has a fifty day moving average price of $23.28 and a 200-day moving average price of $22.42.

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

Institutional Trading of JinkoSolar

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of 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 acquiring an additional 537 shares during the period. Geode Capital Management LLC grew its holdings in JinkoSolar by 19.7% during the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock valued at $1,197,000 after purchasing an additional 7,333 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of JinkoSolar in the third quarter valued at $928,000. State Street Corp lifted 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 valued at $18,687,000 after buying an additional 67,223 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of JinkoSolar during the 3rd quarter worth $682,000. Hedge funds and other 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.