JinkoSolar Holding Company Limited (NYSE:JKS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have earned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.88.

Several analysts have recently weighed in on the company. Freedom Broker cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a report on Thursday, August 27th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Roth Capital reduced their target price on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Finally, Zacks Research cut shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd.

JinkoSolar Trading Down 2.8%

NYSE JKS opened at $8.65 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.13 and a debt-to-equity ratio of 1.10. JinkoSolar has a twelve month low of $8.44 and a twelve month high of $31.88. The company has a market cap of $453.26 million, a price-to-earnings ratio of -0.93 and a beta of 0.52. The business’s fifty day moving average is $12.83 and its 200 day moving average is $17.89.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. As a group, sell-side analysts expect that JinkoSolar will post -5.63 EPS for the current fiscal year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise boosted its stake in JinkoSolar by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 839 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after purchasing an additional 3,118 shares during the period. Himension Capital Singapore PTE. LTD. increased its stake in JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after purchasing an additional 3,961 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of JinkoSolar during the first quarter valued at about $307,000. Finally, Engineers Gate Manager LP acquired a new position in shares of JinkoSolar during the second quarter valued at about $298,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.