JinkoSolar (NYSE:JKS) Sees Unusually-High Trading Volume – What’s Next?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) saw strong trading volume on Tuesday . 1,135,298 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 758,117 shares.The stock last traded at $29.4960 and had previously closed at $29.18.

Analyst Ratings Changes

Several analysts have recently commented on JKS shares. The Goldman Sachs Group increased their price target on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. UBS Group restated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Roth Capital lifted their price objective on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, JinkoSolar has an average rating of “Reduce” and a consensus price target of $19.49.

JinkoSolar Trading Up 2.6%

The company has a market capitalization of $1.55 billion, a P/E ratio of -3.27 and a beta of 0.52. The business has a 50 day moving average price of $26.82 and a 200 day moving average price of $24.69. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Analysts anticipate that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKS. MTM Investment Management LLC acquired a new stake in shares of JinkoSolar during the second quarter worth about $28,000. Raymond James Financial Inc. bought a new stake in JinkoSolar during the 2nd quarter worth approximately $47,000. New York State Common Retirement Fund bought a new position in JinkoSolar in the third quarter valued at approximately $182,000. FNY Investment Advisers LLC acquired a new position in shares of JinkoSolar in the third quarter valued at approximately $225,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in shares of JinkoSolar during the third quarter worth $252,000. 35.82% of the stock is 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.