JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Zacks Research

JinkoSolar (NYSE:JKS) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Other analysts have also recently issued research reports about the company. Roth Capital reduced their price objective on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research report on Thursday, August 27th. Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.88.

JinkoSolar Stock Up 2.0%

NYSE:JKS opened at $8.34 on Monday. The company has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $19.38. JinkoSolar has a 12 month low of $7.82 and a 12 month high of $31.88.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. As a group, equities analysts forecast that JinkoSolar will post -5.63 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise grew its holdings in JinkoSolar by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 839 shares during the period. Engineers Gate Manager LP bought a new position in shares of JinkoSolar in the second quarter worth about $298,000. Cetera Investment Advisers purchased a new position in shares of JinkoSolar during the 1st quarter valued at about $307,000. Renaissance Technologies LLC lifted 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 buying an additional 40,300 shares in the last quarter. Finally, Himension Capital Singapore PTE. LTD. grew its stake in shares of JinkoSolar by 5.1% during 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 acquiring an additional 3,961 shares during the period. 35.82% of the stock is currently owned by hedge funds and other 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.