Wall Street Zen Downgrades JinkoSolar (NYSE:JKS) to Sell

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

JKS has been the subject of several other reports. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Roth Capital cut their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Finally, UBS Group upped their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.88.

JinkoSolar Stock Performance

Shares of NYSE JKS opened at $13.58 on Friday. The firm has a 50 day moving average of $15.96 and a 200 day moving average of $20.97. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $711.18 million, a price-to-earnings ratio of -1.46 and a beta of 0.52. JinkoSolar has a 12-month low of $13.04 and a 12-month high of $31.88.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share 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 during the quarter, compared to the consensus estimate of $2.17 billion. On average, research analysts anticipate that JinkoSolar will post -2.76 earnings per share for the current year.

Insider Activity

In other 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 value of $263,840.00. Following the completion of the sale, the director directly owned 170,000 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JKS. Legal & General Group Plc increased its holdings in JinkoSolar by 9,212.1% in the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after acquiring an additional 494,595 shares during the last quarter. Invesco Ltd. lifted its stake in JinkoSolar by 15.4% in 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 in the last quarter. Hsbc Holdings PLC lifted its stake in 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 in the last quarter. Capital Wealth Planning LLC bought a new position in shares of JinkoSolar during the 4th quarter valued at about $3,299,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of JinkoSolar by 35.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock valued at $10,691,000 after purchasing an additional 108,744 shares during the last quarter. 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.