JinkoSolar (NYSE:JKS) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report released on Friday.

JKS has been the topic of several other research reports. The Goldman Sachs Group upped their price target on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Zacks Research raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Roth Mkm raised their price target on JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.33.

JinkoSolar Stock Up 9.2%

JinkoSolar stock opened at $27.80 on Friday. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $31.88. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.04 and a beta of 0.52. The stock’s fifty day moving average is $26.90 and its two-hundred day moving average is $24.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, topping the consensus estimate of ($2.56) by $0.26. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. Analysts predict that JinkoSolar will post -0.24 EPS for the current fiscal year.

Institutional Trading of JinkoSolar

Hedge funds have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new stake in JinkoSolar in the second quarter worth approximately $28,000. Raymond James Financial Inc. bought a new position in shares of JinkoSolar in the second quarter valued at $47,000. New York State Common Retirement Fund acquired a new stake in shares of JinkoSolar during the 3rd quarter valued at $182,000. FNY Investment Advisers LLC bought a new stake in shares of JinkoSolar during the 3rd quarter worth $225,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 10,941 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.