NEW YORK (TheStreet) -- Shares of JinkoSolar Holding (JKS) - Get Report are down by 3.29% to $22.63 on heavy trading volume Friday afternoon, even though the company posted strong results for the 2016 first quarter.
Before today's opening bell, the Jiangxi Province, China-based solar power product company reported earnings of $1.72 per ADS, handily beating analysts' expectations of 86 cents per ADS.
Revenue for the quarter was $847.8 million, above analysts' estimates of $685.1 million.
"Global solar demand continues to grow as costs go down. China remains our biggest market with a number of big orders continuing to come in, a trend we believe will continue in the second quarter," CEO Kangping Chen said in a statement.
Separately, Deutsche Bankdowngraded fellow China-based solar company Trina Solar (TSL) earlier today as the outlook for the China market is expected to worsen in the second half of the year.
About 1.2 million of the company's shares were traded today vs. its average volume of 470,281 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels and impressive record of earnings per share growth.
However, as a counter to these strengths, the team also finds weaknesses including generally higher debt management risk, poor profit margins and a generally disappointing performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: JKS