Mackenzie Financial Corp. recently announced the acquisition of new stake in JinkoSolar Holding Co. Ltd ADR (NYSE:JKS). The institutional investor has increased its shareholding in the Technology company by 22.62% to 2.68 million shares with purchase of 0.49 million shares. This fresh investment now brings its stake to 5.12% valued currently at $84.09 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 0.87 million to 1.77 million shares. And Invesco Capital Management LLC has lifted its position by 10.00% or 0.15 million shares – to 1.66 million shares.
With over 0.46 million JinkoSolar Holding Co. Ltd ADR (JKS) shares trading Friday and a closing price of $36.94 on the day, the dollar volume was approximately $16.89 million. The shares have shown a negative half year performance of -16.76% and its price on 12/29/23 lost nearly -1.28%. Currently, there are 51.57M common shares owned by the public and among those 51.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for JKS have a consensus price objective of $294.25. The analysts have set the share’s price value over the next 12 months at a high of $532.23 and a low of $83.96. The average price target is 10.71% above its recent price level and an upside to the estimated low will see the stock gain 56.0% over that period. But an upside of 93.06% will see the stock hit the forecast high price target while median target price for the stock is $229.03.
The top 3 mutual fund holders in JinkoSolar Holding Co. Ltd ADR are Mackenzie Greenchip Global Enviro, Handelsbanken Hallbar Energi, and Invesco Solar ETF. Mackenzie Greenchip Global Enviro owns 2.32 million shares of the company’s stock, all valued at over $72.96 million. The company bought an additional 0.28 million shares recently to bring their total holdings to about 4.44% of the shares outstanding. Invesco Solar ETF bought 3377.0 shares to bring its total holdings to over 1.3 million shares at a value of $40.81 million. Invesco Solar ETF now owns shares totaling to 2.49% of the shares outstanding.
Shares of JinkoSolar Holding Co. Ltd ADR (NYSE: JKS) opened at $37.37, down -$0.05 from a prior closing price of $37.42. However, the script later moved the day high at 37.37, down -1.28%. The company’s stock has a 5-day price change of 4.97% and 21.63% over the past three months. JKS shares are trading -9.64% year to date (YTD), with the 12-month market performance down to -6.86% lower. It has a 12-month low price of $25.15 and touched a high of $61.27 over the same period. JKS has an average intraday trading volume of 1.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.67%, 12.72%, and -3.87% respectively.
Institutional ownership of JinkoSolar Holding Co. Ltd ADR (NYSE: JKS) shares accounts for 39.93% of the company’s 51.57M shares outstanding. Mutual fund holders own 16.80%, while other institutional holders and individual stakeholders account for 22.95% and — respectively.
It has a market capitalization of $1.90B and a beta (3y monthly) value of 0.64. The stock’s trailing 12-month PE ratio is 3.85, while the earnings-per-share (ttm) stands at $9.61. The company has a PEG of 0.10 and a Quick Ratio of 0.79 with the debt-to-equity ratio at 2.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.00% over the week and 4.74% over the month.
Analysts forecast that JinkoSolar Holding Co. Ltd ADR (JKS) will achieve an EPS of $2.41 for the current quarter, $1.47 for the next quarter and $8.36 for 2024. The lowest estimate earnings-per-share for the quarter is $1.9 while analysts give the company a high EPS estimate of $2.93. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to increase by 481.90%, and -43.27% over the next financial year. EPS should grow at an annualized rate of 36.71% over the next five years, compared to 23.38% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate JinkoSolar Holding Co. Ltd ADR (JKS) as a “Moderate Buy” at a consensus score of 2.71. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the JKS, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on January 11, 2023, with the firm’s price target at $50-$70.
