JinkoSolar (NYSE:JKS) Lowered to Sell Rating by Wall Street Zen

JinkoSolar (NYSE:JKS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts have also recently commented on JKS. The Goldman Sachs Group lifted their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, November 19th. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. Roth Mkm upped their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Zacks Research raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Finally, UBS Group restated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average price target of $22.33.

JinkoSolar Stock Performance

NYSE JKS traded up $2.34 during trading on Friday, reaching $27.80. 1,360,421 shares of the company’s stock were exchanged, compared to its average volume of 703,585. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02. The business has a 50 day moving average price of $26.90 and a 200-day moving average price of $24.99. The stock has a market capitalization of $1.44 billion, a P/E ratio of -3.04 and a beta of 0.52. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $31.88.

JinkoSolar (NYSE:JKS) last issued its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, topping the consensus estimate of ($2.56) by $0.26. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. Sell-side analysts forecast that JinkoSolar will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors have recently made changes to their positions in JKS. Public Employees Retirement System of Ohio increased its stake in JinkoSolar by 51.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after acquiring an additional 11,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of JinkoSolar by 18.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after purchasing an additional 3,608 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of JinkoSolar by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after purchasing an additional 3,394 shares in the last quarter. MTM Investment Management LLC bought a new position in shares of JinkoSolar in the second quarter worth $28,000. Finally, JPMorgan Chase & Co. raised its stake in JinkoSolar by 7,759.6% in the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 10,941 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.