Brokerages Set JinkoSolar Holding Co., Ltd. (NYSE:JKS) Target Price at $24.60

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has earned a consensus rating of “Reduce” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.60.

Several brokerages have recently weighed in on JKS. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm cut their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th.

JinkoSolar Stock Up 3.4 %

NYSE JKS opened at $22.58 on Tuesday. The stock has a 50 day moving average price of $23.28 and a 200-day moving average price of $22.42. JinkoSolar has a one year low of $16.70 and a one year high of $38.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The company has a market capitalization of $1.20 billion, a P/E ratio of 38.27 and a beta of 0.44.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.92. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. As a group, equities analysts predict that JinkoSolar will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in JKS. Decade Renewable Partners LP acquired a new position in shares of JinkoSolar during the second quarter valued at about $4,272,000. Millennium Management LLC grew its position in JinkoSolar by 2,305.1% during the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after purchasing an additional 161,888 shares during the last quarter. Marshall Wace LLP increased its stake in JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after purchasing an additional 148,268 shares in the last quarter. Point72 Europe London LLP purchased a new position in shares of JinkoSolar in the second quarter worth $3,023,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of JinkoSolar by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after buying an additional 74,219 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.