Mirae Asset Global Investments Co. Ltd. Trims Holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Mirae Asset Global Investments Co. Ltd. cut its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,124 shares of the semiconductor company’s stock after selling 2,716 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in JinkoSolar were worth $1,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of JinkoSolar by 657.5% in the third quarter. FMR LLC now owns 909 shares of the semiconductor company’s stock worth $28,000 after buying an additional 789 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of JinkoSolar in the third quarter worth approximately $31,000. Toroso Investments LLC purchased a new position in JinkoSolar during the third quarter valued at approximately $35,000. Natixis purchased a new position in JinkoSolar during the fourth quarter valued at approximately $41,000. Finally, Ronald Blue Trust Inc. lifted its holdings in JinkoSolar by 280.6% during the third quarter. Ronald Blue Trust Inc. now owns 1,450 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 1,069 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JKS has been the topic of several analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. StockNews.com downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Daiwa Capital Markets downgraded shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Monday, February 5th. HSBC reiterated a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a research report on Monday, February 5th. Finally, Roth Capital cut shares of JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Trading Down 0.5 %

Shares of JKS opened at $21.56 on Monday. The company’s fifty day moving average is $25.37 and its 200 day moving average is $29.31. JinkoSolar Holding Co., Ltd. has a fifty-two week low of $21.06 and a fifty-two week high of $50.46. The stock has a market capitalization of $1.13 billion, a PE ratio of 2.75 and a beta of 0.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.04.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.08 billion. Sell-side analysts expect that JinkoSolar Holding Co., Ltd. will post 5.27 earnings per share for the current fiscal year.

About JinkoSolar

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.