NEW YORK (TheStreet) -- Shares of JinkoSolar Holding Co. (JKS) are down by 6.12% to $22.09 in early afternoon trading on Thursday, after the company announced its 2014 third quarter revenue results, which fell short of analysts' expectations.
The China-based solar power product manufacturer said revenue for the latest quarter grew by 30% to $417.3 million, but missed the $459.84 million analysts polled by Thomson Reuters had anticipated.
Revenue for the most recent quarter was impacted by a decline in the average selling price of solar modules, Reuters reports.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
However, the company posted a rise in net income to $45.7 million, or $1.32 per ADS, surpassing analysts' forecasts of 71 cents per ADS.
Separately, TheStreet Ratings team rates JINKOSOLAR HOLDING CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate JINKOSOLAR HOLDING CO (JKS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: JKS Ratings Report