StockNews.com Lowers JinkoSolar (NYSE:JKS) to Sell

StockNews.com downgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report issued on Thursday.

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

JinkoSolar Stock Performance

JKS opened at $24.14 on Thursday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 3.08 and a beta of 0.37. The company’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $29.11. JinkoSolar has a 1-year low of $21.06 and a 1-year high of $50.46. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52.

JinkoSolar (NYSE:JKS) last posted its 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). The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.08 billion. JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. On average, analysts expect that JinkoSolar will post 5.27 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after acquiring an additional 150,262 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of JinkoSolar during the 3rd quarter valued at about $1,726,000. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after buying an additional 493,976 shares in the last quarter. Vanguard Group Inc. lifted its position in JinkoSolar by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares during the last quarter. Finally, Aigen Investment Management LP boosted its stake in JinkoSolar by 160.4% in the third quarter. Aigen Investment Management LP now owns 39,529 shares of the semiconductor company’s stock worth $1,200,000 after buying an additional 24,351 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

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.