Dallas, Texas 09/04/2013 (Financialstrend) – While the stock of JinkoSolar Holding Co., Ltd. (NYSE:JKS) had recently presented upward trend in prices in the recent days of trading, it had been a big question in the minds of analysts and investors if this bullish trend would continue. The stock had presented significant gain of 34.83% for the past one month of trading and is presently trading highly above the level of 20 day short term moving average of the stock. The equity research analysts at Zacks had commented that it is highly uncertain to report if the upward trend would continue in the near future. However, the analysts are highly encouraged by the increase in earnings estimates for the stock in the recent weeks and had thereby accorded #2 Buy rating to the stock.
In the recently released 2Q2013 earnings reports, JinkoSolar Holding Co., Ltd. (NYSE:JKS) had presented net profits at $0.56 per share, compared to the net losses at $2 per share for the same quarter of previous year. The analyst expectations were at losses of $0.07 per basic and diluted share of the company. Further, the revenues for the quarter were reported to be at $287.6 million, which was an increase of 47.61% over the previous year.
Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gained on Tuesday to close at $18.27 per share, an increase of 14.55% over the previous close. The stock prices for the day traded in the range of $16.01 to $18.45 per share. For the past 52 weeks, the stock had presented low price at $2.72 and high price at $18.45 per share. The stock managed to pull in around 2.15 million trades on Tuesday, while the average level for the past 30 days of trading is at 840,458.00 shares per day. There are presently 22.19 million outstanding shares for the company and the institutional ownership is at 10%.
