JinkoSolar (NYSE:JKS) Raised to “Buy” at UBS Group

JinkoSolar (NYSE:JKS) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Friday, Briefing.com reports. The brokerage currently has a $17.00 target price on the semiconductor company’s stock. UBS Group‘s price objective points to a potential upside of 65.55% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Roth Capital lowered their price target on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday, August 27th. Freedom Broker raised shares of JinkoSolar from a “hold” rating to a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. Finally, Wall Street Zen lowered shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.62.

JinkoSolar Stock Performance

Shares of JinkoSolar stock opened at $10.27 on Friday. The company has a market cap of $545.28 million, a PE ratio of -1.32 and a beta of 0.39. JinkoSolar has a 52 week low of $7.82 and a 52 week high of $31.88. The business has a 50 day moving average price of $9.94 and a 200-day moving average price of $18.69. 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 (NYSE:JKS) last posted its earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.11) by $2.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.42 billion. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. Equities analysts anticipate that JinkoSolar will post -4.95 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position 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 last quarter. Himension Capital Singapore PTE. LTD. grew its stake in JinkoSolar by 5.1% in the 1st 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 during the period. Cetera Investment Advisers purchased a new stake in shares of JinkoSolar during the 1st quarter valued at $307,000. Engineers Gate Manager LP purchased a new stake in shares of JinkoSolar during the 2nd quarter valued at $298,000. Finally, Renaissance Technologies LLC increased its position in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.