JinkoSolar (NYSE:JKS) Upgraded to “Hold” at Wall Street Zen

JinkoSolar (NYSE:JKS) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on JKS. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Roth Capital increased their target price on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group raised their price target on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $19.49.

JinkoSolar Stock Performance

Shares of JKS opened at $27.19 on Friday. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $31.88. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02. The stock’s fifty day moving average price is $26.75 and its two-hundred day moving average price is $24.57. The firm has a market cap of $1.40 billion, a PE ratio of -2.97 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, topping the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%.The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, equities research analysts forecast that JinkoSolar will post -0.24 EPS for the current year.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in JinkoSolar by 41.2% in the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock worth $7,220,000 after acquiring an additional 113,187 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of JinkoSolar by 51.3% during the second quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after purchasing an additional 11,500 shares in the last quarter. XTX Topco Ltd bought a new position in shares of JinkoSolar in the second quarter worth approximately $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in JinkoSolar by 18.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after purchasing an additional 3,608 shares in the last quarter. Finally, MTM Investment Management LLC bought a new stake in JinkoSolar during the second quarter valued at approximately $28,000. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.