JinkoSolar (NYSE:JKS) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of JinkoSolar (NYSE:JKS) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

Other analysts have also recently issued reports about the stock. Roth Capital decreased their price objective on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Freedom Broker lowered shares of 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 price objective on shares of JinkoSolar in a research note on Thursday, August 27th. Finally, Wall Street Zen cut shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, JinkoSolar has an average rating of “Hold” and an average price target of $19.88.

JinkoSolar Trading Up 2.0%

JinkoSolar stock opened at $8.34 on Monday. The business’s 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $19.38. JinkoSolar has a fifty-two week low of $7.82 and a fifty-two week high of $31.88.

JinkoSolar (NYSE:JKS) last announced 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 during the quarter, compared to analyst estimates of $2.17 billion. As a group, analysts expect that JinkoSolar will post -5.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in JinkoSolar in the second quarter valued at $298,000. Renaissance Technologies LLC grew 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 acquiring an additional 40,300 shares during the period. Cetera Investment Advisers purchased a new position in shares of JinkoSolar in the 1st quarter valued at about $307,000. Himension Capital Singapore PTE. LTD. increased its stake in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after purchasing an additional 3,118 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. 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.