JinkoSolar Holding Co. Ltd. (NYSE:JKS) shares, rose in value on Wednesday, 07/21/21, with the stock price up by 9.56% to the previous day’s close as strong demand from buyers drove the stock to $61.56.
Actively observing the price movement in the last trading, the stock closed the session at $56.19, falling within a range of $57.40 and $61.87. The value of beta (5-year monthly) was 0.93 whereas the PE ratio was 154.67 over 12-month period. Referring to stock’s 52-week performance, its high was $90.20, and the low was $18.56. On the whole, JKS has fluctuated by 49.24% over the past month.
With the market capitalization of JinkoSolar Holding Co. Ltd. currently standing at about $3.05 billion, investors are eagerly awaiting this quarter’s results, scheduled for Sep 21, 2021 – Sep 27, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.03, which is expected to increase to $0.94 for fiscal year $2.86 and then to about $3.86 by fiscal year 2022. Data indicates that the EPS growth is expected to be -7.70% in 2022, while the next year’s EPS growth is forecast to be 35.00%.
Analysts have estimated the company’s revenue for the quarter at $1.22 billion, with a low estimate of $1.15 billion and a high estimate of $1.31 billion. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $6.29 billion, representing an increase of 16.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that JKS’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
8 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 4 analyst(s), 1 recommend it as a Buy and 1 called the JKS stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 2 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 5.98, with the price of JKS currently trading nearly 15.67% and 41.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.72, while the 7-day volatility ratio is showing 7.84% which for the 30-day chart, stands at 9.54%. Furthermore, JinkoSolar Holding Co. Ltd. (JKS)’s beta value is 1.00, and its average true range (ATR) is 4.93. The company’s stock has been forecasted to trade at an average price of $267.18 over the course of the next 52 weeks, with a low of $83.86 and a high of $393.74. Based on these price targets, the low is -36.22% off current price, whereas the price has to move -539.6% to reach the yearly target high. Additionally, analysts’ median price of $264.65 is likely to be welcomed by investors because it represents a decrease of -329.91% from the current levels.
A comparison of JinkoSolar Holding Co. Ltd. (JKS) with its peers suggests the former has fared considerably weaker in the market. JKS showed an intraday change of 9.56% in last session, and over the past year, it grew by 202.80%%. In comparison, Canadian Solar Inc. (CSIQ) has moved higher at 4.74% on the day and was up 72.23% over the past 12 months. On the other hand, the price of Daqo New Energy Corp. (DQ) has risen 20.13% on the day. The stock, however, is off 271.70% from where it was a year ago. Additionally, there is a gain of 5.81% for ReneSola Ltd (SOL) in last trading while the stock has seen an overall depriciation of 466.67%% over the past year. The PE ratio stands at 154.67 for JinkoSolar Holding Co. Ltd., compared to 42.16 for Canadian Solar Inc., and 32.91 for Daqo New Energy Corp. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.82%. Meanwhile, the Dow Jones Industrial Improved by 0.83%.
Data on historical trading for JinkoSolar Holding Co. Ltd. (NYSE:JKS) indicates that the trading volumes over the past 10 days have averaged 2.23 million and over the past 3 months, they’ve averaged 2.19 million. According to company’s latest data on outstanding shares, there are 47.61 million shares outstanding.
Nearly 1.00% of JinkoSolar Holding Co. Ltd.’s shares belong to company insiders and institutional investors own 50.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.18 million shares as on May 27, 2021, resulting in a short ratio of 5.58. According to the data, the short interest in JinkoSolar Holding Co. Ltd. (JKS) stood at 15.05% of shares outstanding as of May 27, 2021; the number of short shares registered in Apr 29, 2021 reached 7.38 million. The stock has fallen by -0.50% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the JKS stock heading into the next quarter.