JinkoSolar (NYSE:JKS) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the company. Roth Capital raised their price objective on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. The Goldman Sachs Group increased their target price on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Wednesday, November 19th. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research note on Thursday. Three investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, JinkoSolar has a consensus rating of “Strong Sell” and an average price target of $19.49.

JinkoSolar Stock Up 1.5%

Shares of JinkoSolar stock opened at $27.60 on Friday. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $31.88. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -3.02 and a beta of 0.49. The company has a 50-day moving average of $25.48 and a 200 day moving average of $23.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

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

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently bought and sold shares of the business. Profund Advisors LLC boosted its holdings in shares of JinkoSolar by 5.3% during the 3rd quarter. Profund Advisors LLC now owns 18,650 shares of the semiconductor company’s stock valued at $448,000 after acquiring an additional 937 shares during the last quarter. MTM Investment Management LLC bought a new position in JinkoSolar during the second quarter valued at approximately $28,000. Raymond James Financial Inc. purchased a new stake in JinkoSolar in the second quarter worth approximately $47,000. Geode Capital Management LLC grew its position in JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after purchasing an additional 3,394 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in JinkoSolar by 18.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after buying an additional 3,608 shares during the last quarter. 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.