Janney Montgomery Scott LLC acquired a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,052 shares of the semiconductor company’s stock, valued at approximately $202,000.
A number of other hedge funds also recently added to or reduced their stakes in JKS. FNY Investment Advisers LLC purchased a new stake in JinkoSolar during the 2nd quarter valued at $46,000. Selective Wealth Management Inc. purchased a new stake in JinkoSolar during the 2nd quarter valued at $55,000. Daiwa Securities Group Inc. purchased a new stake in JinkoSolar during the 1st quarter valued at $145,000. Counterpoint Mutual Funds LLC raised its stake in JinkoSolar by 83.6% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 2,378 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 1,083 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new stake in JinkoSolar during the 1st quarter valued at $221,000. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on JKS shares. HSBC assumed coverage on shares of JinkoSolar in a research note on Wednesday, September 28th. They set a “buy” rating and a $76.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of JinkoSolar from $31.00 to $35.00 and gave the company a “sell” rating in a research report on Monday, August 29th. TheStreet raised shares of JinkoSolar from a “d+” rating to a “c” rating in a research report on Friday, October 28th. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Friday, October 21st. Finally, Roth Capital cut their price objective on shares of JinkoSolar from $58.00 to $50.00 in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.82.
JinkoSolar Trading Up 0.1 %
JinkoSolar (NYSE:JKS – Get Rating) last released its quarterly earnings data on Friday, August 26th. The semiconductor company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.19 by $0.92. JinkoSolar had a net margin of 0.25% and a return on equity of 4.59%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.25 billion. On average, sell-side analysts anticipate that JinkoSolar Holding Co., Ltd. will post 3.06 earnings per share for the current fiscal year.
JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects.
- Get a free copy of the StockNews.com research report on JinkoSolar (JKS)
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