JinkoSolar (NYSE:JKS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of JinkoSolar (NYSE:JKS) from a strong sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also recently commented on JKS. Zacks Research raised JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Freedom Broker raised JinkoSolar from a “hold” rating to a “buy” rating in a research note on Tuesday, November 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. Roth Capital dropped their target price on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. Finally, UBS Group raised JinkoSolar from a “neutral” rating to a “buy” rating and cut their target price for the stock from $24.00 to $17.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.62.

JinkoSolar Trading Down 1.4%

Shares of JinkoSolar stock opened at $10.81 on Friday. The firm has a market capitalization of $574.28 million, a PE ratio of -1.39 and a beta of 0.39. JinkoSolar has a twelve month low of $7.82 and a twelve month high of $31.88. The firm’s 50-day moving average price is $9.83 and its 200 day moving average price is $18.55. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Aberdeen Group plc acquired a new stake in JinkoSolar during the 3rd quarter worth approximately $275,000. Engineers Gate Manager LP acquired a new position in shares of JinkoSolar in the second quarter worth $298,000. Renaissance Technologies LLC grew its stake 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 in the last quarter. Cetera Investment Advisers acquired a new position in shares of JinkoSolar in the first quarter worth $307,000. Finally, Himension Capital Singapore PTE. LTD. increased its position in shares of JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after acquiring an additional 3,961 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.