JinkoSolar (NYSE:JKS) Cut to Sell at Wall Street Zen

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

Several other brokerages have also recently issued reports on JKS. Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Roth Mkm upped their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. The Goldman Sachs Group raised their price target on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Finally, UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $22.33.

JinkoSolar Price Performance

JKS opened at $23.36 on Friday. 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 50 day simple moving average is $26.95 and its 200 day simple moving average is $25.72. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -2.55 and a beta of 0.55. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $31.88.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Invesco Ltd. boosted its holdings in JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after acquiring an additional 213,935 shares in the last quarter. Mackenzie Financial Corp raised its holdings in JinkoSolar by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock worth $36,289,000 after purchasing an additional 20,000 shares in the last quarter. State Street Corp raised its holdings in JinkoSolar by 8.0% in the 4th quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock worth $18,978,000 after purchasing an additional 54,661 shares in the last quarter. Legal & General Group Plc lifted its position in shares of JinkoSolar by 9,212.1% in the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after purchasing an additional 494,595 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of JinkoSolar by 35.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock worth $10,691,000 after purchasing an additional 108,744 shares during the period. Hedge funds and other 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.