JinkoSolar (NYSE:JKS) Downgraded to Sell at StockNews.com

JinkoSolar (NYSE:JKS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

JKS has been the topic of a number of other reports. UBS Group dropped their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. Roth Mkm reaffirmed a “neutral” rating and set a $25.00 price target (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. Daiwa Capital Markets downgraded JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Monday, February 5th. The Goldman Sachs Group dropped their price target on JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, April 11th. Finally, HSBC reissued a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, JinkoSolar currently has a consensus rating of “Hold” and a consensus price target of $26.60.

JinkoSolar Stock Down 1.1 %

Shares of JinkoSolar stock opened at $22.50 on Wednesday. JinkoSolar has a one year low of $22.06 and a one year high of $51.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. The stock’s 50-day moving average is $25.63 and its 200 day moving average is $29.46. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 2.87 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. Equities research analysts anticipate that JinkoSolar will post 5.27 EPS for the current year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of JinkoSolar by 22.6% during the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after acquiring an additional 493,976 shares during the last quarter. BlackRock Inc. increased its position in shares of JinkoSolar by 16.2% during the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock valued at $127,123,000 after acquiring an additional 366,251 shares during the last quarter. Morgan Stanley increased its position in shares of JinkoSolar by 65.7% during the third quarter. Morgan Stanley now owns 2,026,002 shares of the semiconductor company’s stock valued at $61,530,000 after acquiring an additional 803,164 shares during the last quarter. Invesco Ltd. increased its position in shares of JinkoSolar by 10.0% during the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after acquiring an additional 150,262 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of JinkoSolar by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,576,610 shares of the semiconductor company’s stock valued at $58,240,000 after acquiring an additional 22,254 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects.