JinkoSolar Holding Company Limited (NYSE:JKS) Stock Has Average Target Price of $19.88

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.88.

Several equities analysts have issued reports on JKS shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Zacks Research downgraded JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Roth Capital decreased their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in JinkoSolar by 355.9% during 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 period. Renaissance Technologies LLC grew its position in JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in JinkoSolar in the fourth quarter valued at $3,299,000. Engineers Gate Manager LP acquired a new position in JinkoSolar in the second quarter valued at $298,000. Finally, Cetera Investment Advisers purchased a new stake in shares of JinkoSolar in the first quarter valued at about $307,000. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Trading Down 1.2%

Shares of JinkoSolar stock opened at $9.09 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $13.07 and a 200-day simple moving average of $18.09. The stock has a market cap of $476.04 million, a price-to-earnings ratio of -0.97 and a beta of 0.52. JinkoSolar has a 12-month low of $8.92 and a 12-month high of $31.88.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.17 billion. On average, equities analysts forecast that JinkoSolar will post -5.63 EPS for the current fiscal year.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.