JinkoSolar (NYSE:JKS) Cut to Hold at Zacks Research

Zacks Research lowered shares of JinkoSolar (NYSE:JKS) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. The Goldman Sachs Group upped their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. UBS Group restated a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Finally, Roth Mkm increased their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $22.33.

JinkoSolar Trading Down 2.7%

JinkoSolar stock opened at $26.57 on Wednesday. The firm has a 50-day moving average price of $27.26 and a two-hundred day moving average price of $25.34. JinkoSolar has a 52-week low of $13.42 and a 52-week high of $31.88. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.90 and a beta of 0.52. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. Sell-side analysts expect that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC purchased a new position in shares of JinkoSolar during the second quarter valued at $28,000. Raymond James Financial Inc. acquired a new stake in JinkoSolar during the 2nd quarter worth about $47,000. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar during the 4th quarter worth about $58,000. Leonteq Securities AG purchased a new position in JinkoSolar during the 4th quarter valued at about $101,000. Finally, Federation des caisses Desjardins du Quebec increased its holdings in shares of JinkoSolar by 277.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 5,211 shares during the period. Institutional investors and hedge funds 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.