JinkoSolar (NYSE:JKS) Raised to Hold at Wall Street Zen

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

JKS has been the subject of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. The Goldman Sachs Group lifted their target price on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, November 19th. Roth Capital upped their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Finally, UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $19.49.

JinkoSolar Trading Up 1.3%

Shares of JKS stock opened at $27.19 on Friday. The business has a 50-day moving average price of $26.75 and a two-hundred day moving average price of $24.57. JinkoSolar has a 12-month low of $13.42 and a 12-month high of $31.88. 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 firm has a market cap of $1.40 billion, a P/E ratio of -2.97 and a beta of 0.52.

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

Institutional Inflows and Outflows

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

JinkoSolar Company Profile

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.