JinkoSolar (NYSE:JKS) Stock Gets Price Target Trim from Roth Capital

JinkoSolar (NYSE:JKS) had its price target decreased by Roth Capital from $16.00 to $10.00 in a research report report published on Monday,Benzinga reports. Roth Capital currently has a neutral rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a research note on Thursday, August 27th. Zacks Research raised JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Friday, October 30th. Wall Street Zen lowered JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday, October 26th. Finally, Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.38.

JinkoSolar Stock Performance

NYSE:JKS opened at $10.68 on Monday. The firm’s fifty day simple moving average is $10.01 and its 200-day simple moving average is $18.79. The company has a quick ratio of 0.84, a current ratio of 1.13 and a debt-to-equity ratio of 1.10. The stock has a market cap of $567.05 million, a PE ratio of -1.37 and a beta of 0.39. JinkoSolar has a fifty-two week low of $7.82 and a fifty-two week high of $31.88.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Analysts expect that JinkoSolar will post -4.95 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Large investors have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new position in JinkoSolar during the second quarter worth $298,000. Renaissance Technologies LLC raised its holdings in shares of JinkoSolar by 96.2% in the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after acquiring an additional 40,300 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of JinkoSolar in the first quarter worth $307,000. Himension Capital Singapore PTE. LTD. lifted its position in shares of JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after acquiring an additional 3,961 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after acquiring an additional 3,118 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.