JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Daiwa Securities Group

JinkoSolar (NYSE:JKS) was upgraded by Daiwa Securities Group from a “sell” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $28.50 price objective on the semiconductor company’s stock. Daiwa Securities Group’s price objective would suggest a potential upside of 7.75% from the company’s previous close.

JKS has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, UBS Group restated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, JinkoSolar has a consensus rating of “Reduce” and a consensus price target of $23.88.

JinkoSolar Trading Up 3.6%

Shares of NYSE JKS opened at $26.45 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. JinkoSolar has a 12 month low of $13.42 and a 12 month high of $31.88. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -2.89 and a beta of 0.55. The business has a fifty day simple moving average of $26.22 and a 200-day simple moving average of $25.87.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of JKS. Trexquant Investment LP increased its holdings in shares of JinkoSolar by 2.1% in the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock valued at $1,094,000 after purchasing an additional 889 shares during the period. Profund Advisors LLC boosted its holdings in shares of JinkoSolar by 5.3% during the third quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 937 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in JinkoSolar by 7.7% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock valued at $440,000 after purchasing an additional 1,219 shares in the last quarter. Raymond James Financial Inc. purchased a new position in JinkoSolar during the second quarter valued at approximately $47,000. Finally, Banque Cantonale Vaudoise acquired a new position in JinkoSolar in the 4th quarter valued at approximately $58,000. Hedge funds and other 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.