JinkoSolar (NYSE:JKS) Shares Gap Up – Should You Buy?

JinkoSolar Holding Company Limited (NYSE:JKS) gapped up prior to trading on Wednesday . The stock had previously closed at $25.41, but opened at $28.89. JinkoSolar shares last traded at $28.9950, with a volume of 844,009 shares.

Analyst Ratings Changes

JKS has been the topic of several analyst reports. UBS Group restated a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Roth Mkm lifted their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Wall Street Zen cut JinkoSolar from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Finally, Zacks Research upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, JinkoSolar has an average rating of “Hold” and a consensus target price of $22.33.

JinkoSolar Stock Performance

The firm’s fifty day simple moving average is $26.84 and its 200 day simple moving average is $25.13. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.96 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, sell-side analysts forecast that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new position in JinkoSolar in the 3rd quarter valued at approximately $1,162,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of JinkoSolar during the third quarter worth $1,009,000. XTX Topco Ltd purchased a new stake in shares of JinkoSolar during the second quarter worth $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in JinkoSolar by 18.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after purchasing an additional 3,608 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in JinkoSolar by 63.0% in the third quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock valued at $1,610,000 after purchasing an additional 25,903 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.