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JinkoSolar (JKS) Moves 8.5% Higher: Will This Strength Last?
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JinkoSolar (JKS - Free Report) shares soared 8.5% in the last trading session to close at $27.56. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.7% loss over the past four weeks.
Shares jumped after JinkoSolar revealed that its Jinko ESS North American unit received the IEC 62443-2-4 cybersecurity certification from exida, an internationally respected industrial security standard. It validates the strength of the company’s energy storage systems’ security, boosting credibility with utilities, enterprises, and regulators. This enhances customer trust, improves competitiveness in regulated markets, and can help drive higher ESS adoption and future sales growth.
This solar power product maker is expected to post quarterly loss of $0.62 per share in its upcoming report, which represents a year-over-year change of +38.6%. Revenues are expected to be $2.79 billion, down 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For JinkoSolar, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JKS going forward to see if this recent jump can turn into more strength down the road.
JinkoSolar is a member of the Zacks Solar industry. One other stock in the same industry, Tigo Energy, Inc. (TYGO - Free Report) , finished the last trading session 7.9% higher at $3.69. TYGO has returned 113.8% over the past month.
Tigo Energy, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. Compared to the company's year-ago EPS, this represents a change of +90.9%. Tigo Energy, Inc. currently boasts a Zacks Rank of #3 (Hold).
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JinkoSolar (JKS) Moves 8.5% Higher: Will This Strength Last?
JinkoSolar (JKS - Free Report) shares soared 8.5% in the last trading session to close at $27.56. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.7% loss over the past four weeks.
Shares jumped after JinkoSolar revealed that its Jinko ESS North American unit received the IEC 62443-2-4 cybersecurity certification from exida, an internationally respected industrial security standard. It validates the strength of the company’s energy storage systems’ security, boosting credibility with utilities, enterprises, and regulators. This enhances customer trust, improves competitiveness in regulated markets, and can help drive higher ESS adoption and future sales growth.
This solar power product maker is expected to post quarterly loss of $0.62 per share in its upcoming report, which represents a year-over-year change of +38.6%. Revenues are expected to be $2.79 billion, down 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For JinkoSolar, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JKS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
JinkoSolar is a member of the Zacks Solar industry. One other stock in the same industry, Tigo Energy, Inc. (TYGO - Free Report) , finished the last trading session 7.9% higher at $3.69. TYGO has returned 113.8% over the past month.
Tigo Energy, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. Compared to the company's year-ago EPS, this represents a change of +90.9%. Tigo Energy, Inc. currently boasts a Zacks Rank of #3 (Hold).