Discovery Value Fund reduced its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,110,238 shares of the semiconductor company’s stock after selling 424,265 shares during the period. JinkoSolar comprises about 2.2% of Discovery Value Fund’s holdings, making the stock its 6th largest holding. Discovery Value Fund’s holdings in JinkoSolar were worth $19,984,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of JinkoSolar by 0.8% during the 3rd quarter. BlackRock Inc. now owns 773,603 shares of the semiconductor company’s stock worth $8,332,000 after purchasing an additional 6,066 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of JinkoSolar during the 3rd quarter worth $176,000. Vanguard Group Inc. raised its stake in shares of JinkoSolar by 22.4% during the 3rd quarter. Vanguard Group Inc. now owns 804,267 shares of the semiconductor company’s stock worth $8,662,000 after buying an additional 147,292 shares during the last quarter. Vanguard Group Inc raised its stake in shares of JinkoSolar by 22.4% during the 3rd quarter. Vanguard Group Inc now owns 804,267 shares of the semiconductor company’s stock worth $8,662,000 after buying an additional 147,292 shares during the last quarter. Finally, Wealth Architects LLC acquired a new position in shares of JinkoSolar during the 4th quarter worth $117,000. 29.27% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. ValuEngine downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research raised JinkoSolar from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, February 6th. Roth Capital raised JinkoSolar from a “neutral” rating to a “buy” rating and cut their price target for the stock from $20.00 to $11.50 in a research note on Monday, February 4th. Goldman Sachs Group raised JinkoSolar from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, February 4th. Finally, TheStreet raised JinkoSolar from a “d+” rating to a “c” rating in a research note on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.58.
JKS stock traded down $0.65 during trading on Wednesday, hitting $17.04. The stock had a trading volume of 151,255 shares, compared to its average volume of 734,856. JinkoSolar Holding Co., Ltd. has a 1-year low of $7.11 and a 1-year high of $21.80. The company has a market capitalization of $486.15 million, a price-to-earnings ratio of 11.08, a PEG ratio of 0.59 and a beta of 2.34. The company has a current ratio of 0.95, a quick ratio of 0.71 and a debt-to-equity ratio of 0.31.
JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.32). JinkoSolar had a net margin of 1.60% and a return on equity of 5.01%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that JinkoSolar Holding Co., Ltd. will post 2.97 earnings per share for the current year.
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JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.
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