JinkoSolar (NYSE:JKS) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of JinkoSolar (NYSE:JKS) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group upped their target price on JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. UBS Group restated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Roth Mkm upped their target price on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, JinkoSolar presently has an average rating of “Reduce” and an average target price of $22.33.

JinkoSolar Price Performance

JKS stock opened at $27.26 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $27.22 and its two-hundred day moving average price is $25.32. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -2.98 and a beta of 0.52. JinkoSolar has a 12-month low of $13.42 and a 12-month high of $31.88.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The company had revenue of $2.27 billion for 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%. As a group, equities analysts predict that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of JinkoSolar during the third quarter valued at approximately $1,162,000. Hussman Strategic Advisors Inc. purchased a new stake in JinkoSolar in the third quarter worth approximately $1,009,000. XTX Topco Ltd bought a new stake in JinkoSolar in the 2nd quarter worth approximately $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted 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 valued at $498,000 after buying an additional 3,608 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of JinkoSolar by 63.0% in the 3rd quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock worth $1,610,000 after buying an additional 25,903 shares during 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.