JinkoSolar Holding Co. Ltd. (NYSE:JKS) finished Wednesday with a subtraction of -$1.35 to close at $32.01, a downside of -4.05 percent. An average of 971,020 shares of common stock have been traded in the last five days. There was a fall of -$1.98 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 896,905 shares traded, while the 50-day average volume stands at 790,002.
JKS stock has decreased by -24.20% in the last month. The company shares reached their 1-month lowest point of $31.95 on 08/23/23. With the stock rallying to its 52-week high on 01/11/23, shares of the company touched a low of $32.50 and a high of $64.66 in 52 weeks. It has reached a new high 5 times so far this year and lost -21.70% or -$8.87 in price. In spite of this, the price is down -50.49% from the 52-week high.
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Valuation Metrics
JinkoSolar Holding Co. Ltd. (JKS) has a trailing price-to-earnings (P/E) ratio of 3.83. The stock’s beta is 0.88. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.11, the price-to-book (PB) ratio at 0.62.
Financial Health
The quick ratio of JinkoSolar Holding Co. Ltd. for the three months ended June 29 was 0.80, and the current ratio was 1.10, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.96 and a total debt to equity ratio of 2.94 for the quarter ending June 29. JinkoSolar Holding Co. Ltd.’s EBITDA margin for the year ending June 29 is 4.25%, while its operating margin for the same period stands at 3.30%. Its gross profit as reported stood at $1.78 billion compared to revenue of $12.05 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, JinkoSolar Holding Co. Ltd.’s return on assets was 2.90%.
Earnings Surprise
For the three-month period that ended June 29, JinkoSolar Holding Co. Ltd. had $280.39 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $13.36 million in the quarter, while revenues were shrunk -746.86%. The analyst consensus anticipated JinkoSolar Holding Co. Ltd.’s latest quarter earnings to come in at $1.65 per share, but it turned out to be $3.52, a 113.30% surprise. For the quarter, EBITDA amounted to $212.13 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at JinkoSolar Holding Co. Ltd. (JKS) price momentum. RSI 9-day as of the close on 23 August was 18.79%, suggesting the stock is oversold, with historical volatility in this time frame at 27.08%.
As of today, JKS’s price is $33.33 -5.83% or -$1.98 from its 5-day moving average. JKS is currently trading -23.86% lower than its 20-day SMA and -36.73% lower than its 100-day SMA. However, the stock’s current price level is -21.35% below the SMA50 and -34.35% below the SMA200.
The stochastic %K and %D were 11.37% and 13.75%, respectively, and the average true range (ATR) was 1.73. With the 14-day stochastic at 0.87% and the average true range at 1.76, the RSI (14) stands at 23.78%. The stock has reached -0.95 on the 9-day MACD Oscillator while the 14-day reading was at -2.26.
Analyst Ratings
ROTH Capital upgraded JinkoSolar Holding Co. Ltd. (NYSE: JKS) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for JinkoSolar Holding Co. Ltd. (JKS) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell JKS, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.
What is JKS’s price target for the next 12 months?
Analysts predict a range of price targets between $138.56 and $558.50, with a median target of $378.62. Taking a look at these predictions, the average price target given by analysts for JinkoSolar Holding Co. Ltd. (JKS) stock is $362.27.
