JinkoSolar (NYSE:JKS) Shares Gap Down - Here's Why

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $17.65, but opened at $16.96. JinkoSolar shares last traded at $16.43, with a volume of 103,881 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on JKS shares. Daiwa Capital Markets lowered JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. UBS Group dropped their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Glj Research decreased their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their price objective on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar Trading Down 5.6 %

The firm has a market cap of $885.56 million, a P/E ratio of 28.32 and a beta of 0.17. The stock has a 50 day moving average of $19.51 and a 200 day moving average of $22.12. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The business had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company's revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. As a group, equities research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

Several large investors have recently modified their holdings of JKS. Barclays PLC grew its position in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock worth $62,000 after buying an additional 537 shares during the last quarter. Geode Capital Management LLC boosted its position in JinkoSolar by 19.7% during the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company's stock worth $1,197,000 after purchasing an additional 7,333 shares in the last quarter. Green Alpha Advisors LLC grew its position in shares of JinkoSolar by 15.4% in the fourth quarter. Green Alpha Advisors LLC now owns 82,531 shares of the semiconductor company's stock valued at $2,055,000 after purchasing an additional 10,983 shares during the period. SG Americas Securities LLC acquired a new position in JinkoSolar in the 4th quarter valued at $1,435,000. Finally, New York State Common Retirement Fund acquired a new position in JinkoSolar during the fourth quarter worth about $132,000. 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.

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