JinkoSolar (NYSE:JKS) Trading Up 9.5% - Here's What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shot up 9.5% during trading on Monday . The company traded as high as $16.24 and last traded at $15.80. 330,498 shares traded hands during trading, a decline of 69% from the average session volume of 1,058,196 shares. The stock had previously closed at $14.42.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in 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 decreased their target price on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Glj Research cut their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group cut their price objective on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Up 2.5 %

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 stock has a market capitalization of $860.15 million, a price-to-earnings ratio of 27.43 and a beta of 0.17. The firm's fifty day simple moving average is $20.15 and its 200 day simple moving average is $22.57.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly 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 return on equity of 4.18% and a net margin of 0.53%. The company's revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. On average, sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently added to or reduced their stakes in JKS. SG Americas Securities LLC boosted its holdings in JinkoSolar by 8.9% during the first quarter. SG Americas Securities LLC now owns 62,745 shares of the semiconductor company's stock worth $1,170,000 after purchasing an additional 5,110 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in JinkoSolar by 42.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company's stock worth $1,229,000 after purchasing an additional 14,765 shares during the period. Twinbeech Capital LP grew its stake in JinkoSolar by 219.9% during the fourth quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company's stock valued at $646,000 after acquiring an additional 17,846 shares in the last quarter. Millennium Management LLC bought a new position in JinkoSolar in the 4th quarter worth about $2,846,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after buying an additional 3,998 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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.