abrdn plc Reduces Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

abrdn plc trimmed its position in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 22,593 shares of the semiconductor company’s stock after selling 1,248 shares during the quarter. abrdn plc’s holdings in JinkoSolar were worth $835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of JKS. Headlands Technologies LLC purchased a new stake in shares of JinkoSolar in the third quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of JinkoSolar by 109.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 1,678 shares during the period. Van ECK Associates Corp lifted its stake in shares of JinkoSolar by 16.0% in the 3rd quarter. Van ECK Associates Corp now owns 14,379 shares of the semiconductor company’s stock valued at $437,000 after purchasing an additional 1,987 shares during the period. Campbell & CO Investment Adviser LLC grew its position in JinkoSolar by 131.6% during the third quarter. Campbell & CO Investment Adviser LLC now owns 14,764 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 8,390 shares during the period. Finally, Pathstone Family Office LLC raised its position in shares of JinkoSolar by 58.7% in the third quarter. Pathstone Family Office LLC now owns 16,667 shares of the semiconductor company’s stock worth $506,000 after acquiring an additional 6,168 shares during the period. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on JKS shares. StockNews.com lowered JinkoSolar from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Roth Mkm reaffirmed a “neutral” rating and issued a $25.00 target price (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. Daiwa Capital Markets downgraded shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Monday, February 5th. Roth Capital lowered shares of JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group cut their target price on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Price Performance

JinkoSolar stock opened at $24.75 on Tuesday. The stock has a market cap of $1.30 billion, a P/E ratio of 3.15 and a beta of 0.37. The company has a fifty day simple moving average of $24.96 and a 200-day simple moving average of $29.05. The company has a current ratio of 1.02, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48. JinkoSolar Holding Co., Ltd. has a 12-month low of $21.06 and a 12-month high of $50.46.

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 analysts’ consensus estimates of $2.32 by ($1.11). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion. JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. Equities analysts expect that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current fiscal year.

JinkoSolar Profile

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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.