California Public Employees Retirement System Sells 2,820 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

California Public Employees Retirement System lessened its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 71,014 shares of the semiconductor company’s stock after selling 2,820 shares during the period. California Public Employees Retirement System’s holdings in JinkoSolar were worth $2,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after purchasing an additional 493,976 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of JinkoSolar by 44.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock valued at $19,276,000 after buying an additional 195,300 shares during the period. Invesco Ltd. raised its holdings in shares of JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after acquiring an additional 150,262 shares in the last quarter. Trexquant Investment LP lifted its stake in JinkoSolar by 257.5% in the third quarter. Trexquant Investment LP now owns 144,230 shares of the semiconductor company’s stock worth $4,380,000 after acquiring an additional 103,883 shares during the period. Finally, Barclays PLC grew its holdings in JinkoSolar by 732.1% during the 3rd quarter. Barclays PLC now owns 65,956 shares of the semiconductor company’s stock worth $2,003,000 after acquiring an additional 58,030 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on JKS shares. The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, April 11th. HSBC reissued a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research note on Monday, February 5th. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday. UBS Group cut their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Finally, Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.60.

JinkoSolar Stock Performance

Shares of JKS stock opened at $26.18 on Monday. JinkoSolar Holding Co., Ltd. has a 12-month low of $21.06 and a 12-month high of $48.82. The business’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $28.90. The company has a current ratio of 1.03, a quick ratio of 0.80 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.37 billion, a PE ratio of 4.08 and a beta of 0.38.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($1.11). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. Analysts expect that JinkoSolar Holding Co., Ltd. will post 3.84 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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.