JinkoSolar (JKS) Shares Gap Down to $17.69

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Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down before the market opened on Wednesday . The stock had previously closed at $18.68, but opened at $17.69. JinkoSolar shares last traded at $17.40, with a volume of 6784017 shares changing hands.

A number of analysts have commented on the stock. ValuEngine cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Monday. Roth Capital raised shares of JinkoSolar from a “neutral” rating to a “buy” rating and cut their price target for the company from $20.00 to $11.50 in a research report on Monday, February 4th. Zacks Investment Research raised shares of JinkoSolar from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, February 6th. TheStreet raised shares of JinkoSolar from a “d+” rating to a “c” rating in a research report on Thursday, January 17th. Finally, Goldman Sachs Group raised shares of JinkoSolar from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. JinkoSolar has an average rating of “Hold” and an average target price of $12.58.

The stock has a market capitalization of $486.15 million, a PE ratio of 11.45, a PEG ratio of 0.59 and a beta of 2.34. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.32). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.25 billion. JinkoSolar had a return on equity of 5.01% and a net margin of 1.60%. JinkoSolar’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. On average, equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post 2.97 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of JinkoSolar by 6.4% during the 4th quarter. Mackenzie Financial Corp now owns 16,330 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 979 shares in the last quarter. First Trust Advisors LP boosted its position in shares of JinkoSolar by 3.8% during the 1st quarter. First Trust Advisors LP now owns 27,780 shares of the semiconductor company’s stock worth $500,000 after purchasing an additional 1,018 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of JinkoSolar by 125.6% during the 1st quarter. CENTRAL TRUST Co now owns 2,497 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 1,390 shares in the last quarter. Hanson & Doremus Investment Management bought a new position in shares of JinkoSolar during the 1st quarter worth about $30,000. Finally, Deutsche Bank AG boosted its position in shares of JinkoSolar by 3.9% during the 4th quarter. Deutsche Bank AG now owns 48,655 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 1,827 shares in the last quarter. 29.27% of the stock is currently owned by institutional investors.

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About JinkoSolar (NYSE:JKS)

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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