Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 1,984 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in JinkoSolar Holding Co., Ltd. (NYSE:JKSGet Rating) by 15.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,231 shares of the semiconductor company’s stock after selling 1,984 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in JinkoSolar were worth $622,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of JinkoSolar by 1,240.7% during the 1st quarter. JPMorgan Chase & Co. now owns 100,456 shares of the semiconductor company’s stock valued at $4,851,000 after purchasing an additional 92,963 shares during the last quarter. American Century Companies Inc. raised its stake in JinkoSolar by 8.0% in the first quarter. American Century Companies Inc. now owns 13,426 shares of the semiconductor company’s stock valued at $648,000 after buying an additional 991 shares during the last quarter. BlackRock Inc. boosted its holdings in JinkoSolar by 16.2% in the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock worth $127,123,000 after acquiring an additional 366,251 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of JinkoSolar during the first quarter worth about $221,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of JinkoSolar by 1.0% during the first quarter. Allianz Asset Management GmbH now owns 1,131,353 shares of the semiconductor company’s stock valued at $54,633,000 after acquiring an additional 11,700 shares in the last quarter.

JinkoSolar Price Performance

NYSE:JKS opened at $56.67 on Friday. The firm’s fifty day moving average is $48.87 and its two-hundred day moving average is $54.15. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -246.38 and a beta of 0.74. JinkoSolar Holding Co., Ltd. has a one year low of $35.41 and a one year high of $76.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.77 and a current ratio of 1.09.

JinkoSolar (NYSE:JKSGet Rating) last announced its quarterly earnings results on Friday, October 28th. The semiconductor company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.20). JinkoSolar had a net margin of 0.25% and a return on equity of 4.59%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Research analysts expect that JinkoSolar Holding Co., Ltd. will post 3.69 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on JKS. TheStreet raised shares of JinkoSolar from a “d+” rating to a “c” rating in a research report on Friday, October 28th. Roth Capital upgraded JinkoSolar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $70.00 in a research note on Wednesday, January 11th. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Finally, HSBC began coverage on JinkoSolar in a research note on Wednesday, September 28th. They issued a “buy” rating and a $76.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average target price of $58.25.

JinkoSolar Profile

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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.

See Also

Institutional Ownership by Quarter for JinkoSolar (NYSE:JKS)

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