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

JinkoSolar (NYSE:JKS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other brokerages also recently commented on JKS. Roth Mkm increased their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. The Goldman Sachs Group boosted their target price on JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Wednesday, November 19th. Finally, Zacks Research upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.33.

JinkoSolar Trading Up 9.2%

JKS stock opened at $27.80 on Friday. The firm has a fifty day moving average price of $26.90 and a 200 day moving average price of $25.00. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $31.88. The firm has a market cap of $1.44 billion, a PE ratio of -3.04 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30.

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

Hedge Funds Weigh In On JinkoSolar

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in shares of JinkoSolar by 51.3% during the second quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 11,500 shares during the period. XTX Topco Ltd bought a new position in JinkoSolar in the 2nd quarter worth about $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of JinkoSolar by 18.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after acquiring an additional 3,608 shares during the period. SG Americas Securities LLC raised its stake in shares of JinkoSolar by 63.0% during the third quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock valued at $1,610,000 after acquiring an additional 25,903 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda purchased a new stake in shares of JinkoSolar in the third quarter valued at approximately $252,000. 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.