JinkoSolar (NYSE:JKS) Upgraded to Buy at Daiwa Securities Group

Daiwa Securities Group upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a buy rating in a research note released on Tuesday, Marketbeat.com reports. The brokerage currently has $28.50 price objective on the semiconductor company’s stock.

JKS has been the topic of several other reports. Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Finally, Wall Street Zen downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $23.88.

JinkoSolar Price Performance

JKS opened at $25.51 on Tuesday. 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 company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.79 and a beta of 0.55. The firm’s fifty day moving average price is $26.29 and its two-hundred day moving average price is $25.86.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new position in JinkoSolar in the third quarter valued at about $1,162,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of JinkoSolar during the 3rd quarter worth approximately $1,009,000. XTX Topco Ltd bought a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $1,160,000. SG Americas Securities LLC raised its holdings in shares of JinkoSolar by 63.0% in the 3rd quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock worth $1,610,000 after purchasing an additional 25,903 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in JinkoSolar in the fourth quarter valued at approximately $58,000. 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.