JinkoSolar (NYSE:JKS) Stock Price Up 8.5% – Should You Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) were up 8.5% on Wednesday . The stock traded as high as $22.93 and last traded at $22.60. Approximately 260,044 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,067,954 shares. The stock had previously closed at $20.82.

Analysts Set New Price Targets

JKS has been the topic of several research analyst reports. Roth Mkm cut their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group cut their price target on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Trading Down 3.2 %

The firm has a market cap of $1.15 billion, a P/E ratio of 36.78 and a beta of 0.44. The firm has a fifty day simple moving average of $23.09 and a 200-day simple moving average of $22.53. 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 released its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. The firm had revenue of $3.31 billion for 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%. On average, equities research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently bought and sold shares of JKS. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after purchasing an additional 44,661 shares during the last quarter. Vanguard Group Inc. boosted its holdings in JinkoSolar by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock worth $40,080,000 after purchasing an additional 14,491 shares during the last quarter. Dimensional Fund Advisors LP grew its position in JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after purchasing an additional 74,219 shares in the last quarter. State Street Corp increased its stake in JinkoSolar by 10.7% in 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, Marshall Wace LLP lifted its position in shares of JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares in the last quarter. 35.82% of the stock is 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.