JinkoSolar (NYSE:JKS) Rating Lowered to Hold at Freedom Broker

JinkoSolar (NYSE:JKS) was downgraded by research analysts at Freedom Broker from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on JKS. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a research note on Thursday. UBS Group increased their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Roth Capital dropped their target price on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, JinkoSolar currently has a consensus rating of “Hold” and an average target price of $19.88.

JinkoSolar Trading Up 0.5%

NYSE:JKS opened at $13.58 on Thursday. JinkoSolar has a one year low of $13.04 and a one year high of $31.88. The business’s 50-day simple moving average is $15.96 and its 200 day simple moving average is $21.02. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market cap of $711.18 million, a price-to-earnings ratio of -1.46 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion. As a group, sell-side analysts predict that JinkoSolar will post -2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director directly owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after acquiring an additional 494,595 shares during the last quarter. Invesco Ltd. raised its position in shares of JinkoSolar by 15.4% during the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock worth $41,406,000 after purchasing an additional 213,935 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after purchasing an additional 147,992 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in JinkoSolar during the 4th quarter valued at approximately $3,299,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of JinkoSolar by 35.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock worth $10,691,000 after acquiring an additional 108,744 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.