JinkoSolar Holding Company Limited (NYSE:JKS) Given Average Recommendation of “Reduce” by Brokerages

JinkoSolar Holding Company Limited (NYSE:JKS) has earned an average recommendation of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.3333.

JKS has been the subject of a number of research analyst reports. Roth Mkm lifted their target price on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 21st. Zacks Research cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. Finally, The Goldman Sachs Group upped their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th.

JinkoSolar Stock Performance

JKS stock opened at $26.46 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of -2.89 and a beta of 0.52. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $27.32 and a 200-day moving average price of $25.50. JinkoSolar has a 1-year low of $13.42 and a 1-year high of $31.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after acquiring an additional 213,935 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of JinkoSolar by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock worth $36,289,000 after purchasing an additional 20,000 shares in the last quarter. Progeny 3 Inc. grew its position in JinkoSolar by 22.2% in the 4th quarter. Progeny 3 Inc. now owns 119,000 shares of the semiconductor company’s stock valued at $3,071,000 after purchasing an additional 21,600 shares during the period. Man Group plc increased its stake in JinkoSolar by 359.0% during the 4th quarter. Man Group plc now owns 62,884 shares of the semiconductor company’s stock valued at $1,623,000 after purchasing an additional 49,184 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in JinkoSolar by 2.1% during the fourth quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock worth $1,094,000 after buying an additional 889 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

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.