JinkoSolar (NYSE:JKS) Upgraded by Daiwa Securities Group to Buy Rating

JinkoSolar (NYSE:JKS) was upgraded by stock analysts at Daiwa Securities Group from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday,Finviz reports. The brokerage presently has a $28.50 price target on the semiconductor company’s stock. Daiwa Securities Group’s price objective indicates a potential upside of 19.19% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. UBS Group restated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, JinkoSolar has a consensus rating of “Reduce” and a consensus price target of $23.88.

JinkoSolar Stock Up 2.2%

Shares of NYSE JKS opened at $23.91 on Tuesday. The business has a 50-day moving average of $26.38 and a two-hundred day moving average of $25.86. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.61 and a beta of 0.55. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $31.88. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JKS. Raymond James Financial Inc. purchased a new stake in JinkoSolar in the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $58,000. Leonteq Securities AG purchased a new position in shares of JinkoSolar during the fourth quarter worth approximately $101,000. New York State Common Retirement Fund acquired a new position in shares of JinkoSolar in the 3rd quarter valued at $182,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of JinkoSolar by 277.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after acquiring an additional 5,211 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.