JinkoSolar (NYSE:JKS) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. Zacks Research cut JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Finally, Roth Capital cut their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, JinkoSolar currently has a consensus rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Down 2.7%

NYSE JKS opened at $8.64 on Friday. JinkoSolar has a 12 month low of $8.30 and a 12 month high of $31.88. The company has a market capitalization of $458.57 million, a P/E ratio of -0.93 and a beta of 0.52. The company’s 50 day simple moving average is $12.56 and its 200 day simple moving average is $17.66. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84.

JinkoSolar (NYSE:JKS) last issued its earnings results 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 business 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%. Equities research analysts expect that JinkoSolar will post -5.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of JKS. Engineers Gate Manager LP purchased a new position in shares of JinkoSolar during the 2nd quarter valued at $298,000. Renaissance Technologies LLC increased its position in JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Cetera Investment Advisers acquired a new position in JinkoSolar in the 1st quarter worth about $307,000. Himension Capital Singapore PTE. LTD. increased its position 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 worth $2,092,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 0.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.