JinkoSolar (NYSE:JKS) Downgraded to Sell Rating by Citigroup

Citigroup lowered shares of JinkoSolar (NYSE:JKS) from a buy rating to a sell rating in a report released on Monday, MarketBeat.com reports.

A number of other brokerages have also recently issued reports on JKS. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. The Goldman Sachs Group dropped their price objective on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. UBS Group decreased their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Finally, Glj Research cut their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Performance

Shares of JKS opened at $17.62 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a market cap of $936.43 million, a PE ratio of 29.86 and a beta of 0.16. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $37.36. The stock’s fifty day moving average price is $18.96 and its two-hundred day moving average price is $21.99.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($1.45) by ($1.40). The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. JinkoSolar’s revenue for the quarter was down 39.9% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, equities research analysts forecast that JinkoSolar will post -0.24 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors have recently made changes to their positions in JKS. SG Americas Securities LLC bought a new stake in shares of JinkoSolar during the 4th quarter worth $1,435,000. Himension Capital Singapore PTE. LTD. lifted its stake in JinkoSolar by 472.8% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company’s stock worth $1,374,000 after purchasing an additional 45,542 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of JinkoSolar by 245.8% in the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock worth $1,032,000 after purchasing an additional 29,459 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of JinkoSolar during the 4th quarter valued at about $5,948,000. Finally, Capital Wealth Planning LLC purchased a new position in shares of JinkoSolar during the 4th quarter valued at about $752,000. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company 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.