Freedom Investment Management Inc. Trims Stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Freedom Investment Management Inc. decreased its stake in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,766 shares of the semiconductor company’s stock after selling 2,724 shares during the period. Freedom Investment Management Inc. owned 0.06% of JinkoSolar worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in JKS. CANADA LIFE ASSURANCE Co purchased a new stake in JinkoSolar during the 4th quarter worth about $55,000. Barclays PLC grew its holdings in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of JinkoSolar in the fourth quarter valued at approximately $119,000. New York State Common Retirement Fund purchased a new position in shares of JinkoSolar during the fourth quarter valued at approximately $132,000. Finally, Jump Financial LLC acquired a new stake in JinkoSolar during the fourth quarter worth approximately $200,000. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Stock Performance

JinkoSolar stock opened at $16.18 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. JinkoSolar Holding Co., Ltd. has a 12 month low of $13.42 and a 12 month high of $37.36. The company has a market cap of $860.15 million, a price-to-earnings ratio of 27.43 and a beta of 0.17. The stock’s 50-day moving average is $20.15 and its 200-day moving average is $22.55.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was down 37.1% on a year-over-year basis. Equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

JKS has been the topic of a number of recent analyst reports. Glj Research reduced their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. UBS Group dropped their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.19.

JinkoSolar 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.