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

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

Several other brokerages have also weighed in on JKS. Roth Mkm reissued a neutral rating and set a $25.00 price objective (down from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. The Goldman Sachs Group decreased their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a sell rating for the company in a report on Thursday, April 11th. Daiwa Capital Markets lowered shares of JinkoSolar from an outperform rating to a neutral rating and set a $25.00 price objective for the company. in a report on Monday, February 5th. HSBC reissued a hold rating and set a $30.00 price objective on shares of JinkoSolar in a report on Monday, February 5th. Finally, UBS Group decreased their price target on shares of JinkoSolar from $31.00 to $30.00 and set a neutral rating for the company in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, JinkoSolar currently has a consensus rating of Hold and a consensus target price of $26.60.

JinkoSolar Stock Performance

JinkoSolar stock opened at $24.14 on Thursday. JinkoSolar has a 12-month low of $21.06 and a 12-month high of $50.46. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.08 and a beta of 0.37. 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 firm’s fifty day moving average price is $24.99 and its 200 day moving average price is $29.09.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $4.08 billion. On average, research analysts forecast that JinkoSolar will post 5.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JKS. Mackenzie Financial Corp boosted its stake in 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 purchasing an additional 493,976 shares during the period. National Bank of Canada FI boosted its stake in JinkoSolar by 494.1% during the 4th quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock valued at $9,948,000 after purchasing an additional 236,526 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in JinkoSolar by 44.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock valued at $19,276,000 after purchasing an additional 195,300 shares during the period. Invesco Ltd. boosted its stake in JinkoSolar by 10.0% during the 3rd quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after purchasing an additional 150,262 shares during the period. Finally, Trexquant Investment LP raised its position in shares of JinkoSolar by 257.5% during the 3rd quarter. Trexquant Investment LP now owns 144,230 shares of the semiconductor company’s stock worth $4,380,000 after buying an additional 103,883 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

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.