JinkoSolar (NYSE:JKS) Trading Up 6.3% - Time to Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) were up 6.3% on Monday . The stock traded as high as $17.00 and last traded at $16.71. Approximately 579,417 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,048,436 shares. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

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

JinkoSolar Stock Up 3.5 %

The company has a 50 day moving average of $20.70 and a 200-day moving average of $22.84. The company has a market capitalization of $763.89 million, a P/E ratio of 24.36 and a beta of 0.17. 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 announced its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 0.53% and a return on equity of 4.18%. JinkoSolar's revenue was down 37.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Institutional Trading of JinkoSolar

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its stake in JinkoSolar by 42.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company's stock valued at $1,229,000 after buying an additional 14,765 shares during the last quarter. Twinbeech Capital LP raised its position in shares of JinkoSolar by 219.9% in the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company's stock worth $646,000 after purchasing an additional 17,846 shares during the last quarter. Millennium Management LLC purchased a new position in shares of JinkoSolar in the 4th quarter worth about $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 3,998 shares in the last quarter. Finally, CoreCommodity Management LLC grew its position in JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after purchasing an additional 640 shares during the last quarter. 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.