JinkoSolar (NYSE:JKS) Shares Gap Down - What's Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $16.36, but opened at $15.89. JinkoSolar shares last traded at $16.54, with a volume of 77,270 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JKS shares. Glj Research dropped their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Daiwa Capital Markets downgraded shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. Finally, UBS Group cut their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Trading Up 4.6 %

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 $936.06 million, a PE ratio of 29.85 and a beta of 0.17. The stock's 50-day simple moving average is $19.62 and its 200-day simple moving average is $22.17.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The company had revenue of $20.65 billion for the quarter, compared to analysts' expectations of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. JinkoSolar's quarterly revenue was down 37.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, sell-side analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JKS. CANADA LIFE ASSURANCE Co bought a new position in JinkoSolar in the fourth quarter worth $55,000. Barclays PLC lifted its position 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 acquiring an additional 537 shares during the period. SBI Securities Co. Ltd. bought a new stake in JinkoSolar during the fourth quarter worth about $119,000. New York State Common Retirement Fund purchased a new stake in JinkoSolar in the fourth quarter worth about $132,000. Finally, Jump Financial LLC bought a new position in shares of JinkoSolar during the fourth quarter valued at approximately $200,000. 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.