Brokerages Set JinkoSolar Holding Company Limited (NYSE:JKS) Target Price at $22.33

JinkoSolar Holding Company Limited (NYSE:JKS) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.3333.

JKS has been the subject of a number of research analyst reports. Zacks Research raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. The Goldman Sachs Group raised their target price on JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, November 19th. Finally, Roth Mkm lifted their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st.

JinkoSolar Stock Performance

NYSE JKS opened at $25.44 on Tuesday. The stock has a fifty day simple moving average of $26.85 and a 200-day simple moving average of $25.12. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.31 billion, a PE ratio of -2.78 and a beta of 0.52. JinkoSolar has a twelve month low of $13.42 and a twelve month high of $31.88.

JinkoSolar (NYSE:JKS) last posted its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating 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 company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Equities analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently added to or reduced their stakes in JKS. Public Employees Retirement System of Ohio grew its stake in shares of JinkoSolar by 51.3% in the second quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after acquiring an additional 11,500 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in JinkoSolar by 18.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after purchasing an additional 3,608 shares during the period. Geode Capital Management LLC grew its stake in JinkoSolar by 9.9% during 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 in the last quarter. MTM Investment Management LLC purchased a new stake in JinkoSolar during the 2nd quarter worth about $28,000. Finally, JPMorgan Chase & Co. raised its position in JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 10,941 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.