JinkoSolar (NYSE:JKS) Cut to “Sell” at Wall Street Zen

JinkoSolar (NYSE:JKS) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research firms have also commented on JKS. Roth Capital boosted their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. The Goldman Sachs Group upped their price target on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research report on Thursday. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of $19.49.

JinkoSolar Price Performance

Shares of JKS stock opened at $27.60 on Friday. The business’s fifty day moving average is $25.48 and its 200 day moving average is $23.74. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.02 and a beta of 0.49. JinkoSolar has a twelve month low of $13.42 and a twelve month high of $31.88.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. Research analysts expect that JinkoSolar will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently added to or reduced their stakes in the company. MTM Investment Management LLC bought a new position in JinkoSolar in the 2nd quarter valued at approximately $28,000. Raymond James Financial Inc. purchased a new position in shares of JinkoSolar in the second quarter worth $47,000. New York State Common Retirement Fund bought a new position in shares of JinkoSolar during the third quarter valued at $182,000. FNY Investment Advisers LLC bought a new position in shares of JinkoSolar during the third quarter valued at $225,000. Finally, JPMorgan Chase & Co. boosted its position in shares of JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 10,941 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.