JinkoSolar Holding Co., Ltd. (JKS) Downgraded to “Underweight” at Morgan Stanley
JinkoSolar Holding Co., Ltd. (NYSE:JKS) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “underweight” rating in a research report issued on Friday.
Separately, Credit Suisse Group AG reiterated a “buy” rating and issued a $20.00 target price on shares of JinkoSolar Holding Co. in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.78.
Shares of JinkoSolar Holding Co. (NYSE:JKS) traded down 10.5317% during trading on Friday, reaching $19.1999. The company had a trading volume of 3,131,436 shares. JinkoSolar Holding Co. has a 12-month low of $12.72 and a 12-month high of $24.04. The company has a market cap of $608.31 million, a P/E ratio of 2.3573 and a beta of 2.03. The firm has a 50-day moving average of $17.48 and a 200-day moving average of $15.98.
JinkoSolar Holding Co. (NYSE:JKS) last posted its earnings results on Monday, February 27th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.23. JinkoSolar Holding Co. had a net margin of 5.28% and a return on equity of 33.72%. The company had revenue of $737.65 million during the quarter, compared to analysts’ expectations of $715.13 million. During the same quarter in the previous year, the company posted $2.44 earnings per share. JinkoSolar Holding Co.’s quarterly revenue was down 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that JinkoSolar Holding Co. will post $2.83 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in JinkoSolar Holding Co. during the fourth quarter valued at $178,000. SG Americas Securities LLC boosted its position in JinkoSolar Holding Co. by 17.3% in the first quarter. SG Americas Securities LLC now owns 11,500 shares of the semiconductor company’s stock valued at $191,000 after buying an additional 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in JinkoSolar Holding Co. by 7.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,794 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 779 shares during the period. KBC Group NV boosted its position in JinkoSolar Holding Co. by 34.6% in the first quarter. KBC Group NV now owns 11,864 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 3,050 shares during the period. Finally, FNY Partners Fund LP boosted its position in JinkoSolar Holding Co. by 1,180.0% in the first quarter. FNY Partners Fund LP now owns 12,800 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 11,800 shares during the period. Institutional investors own 18.21% of the company’s stock.
About JinkoSolar Holding Co.
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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