JinkoSolar (NYSE:JKS) Stock Gets Price Target Reduction from Glj Research

JinkoSolar (NYSE:JKS) had its target price reduced by Glj Research from $12.08 to $5.27 in a report released on Tuesday, Marketbeat reports. They currently have a sell rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. Roth Capital lowered their price objective on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a research report on Thursday, August 27th. Wall Street Zen raised shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Saturday, November 7th. UBS Group raised shares of JinkoSolar from a “neutral” rating to a “buy” rating and reduced their price target for the company from $24.00 to $17.00 in a report on Friday, November 6th. Finally, Zacks Research upgraded shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, JinkoSolar currently has an average rating of “Hold” and a consensus target price of $14.35.

JinkoSolar Stock Down 4.3%

JKS opened at $9.71 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The company has a market cap of $515.34 million, a price-to-earnings ratio of -1.24 and a beta of 0.39. JinkoSolar has a one year low of $7.82 and a one year high of $31.88. The business’s fifty day moving average is $9.68 and its two-hundred day moving average is $18.29.

JinkoSolar (NYSE:JKS) last announced its quarterly 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 business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.42 billion. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. Analysts anticipate that JinkoSolar will post -4.95 EPS for the current fiscal year.

Institutional Trading of JinkoSolar

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC increased its position in JinkoSolar by 355.9% during the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after purchasing an additional 147,992 shares in the last quarter. Renaissance Technologies LLC raised its stake in JinkoSolar by 96.2% in 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. Aberdeen Group plc purchased a new position in JinkoSolar in the 3rd quarter valued at about $275,000. Cetera Investment Advisers purchased a new position in JinkoSolar in the 1st quarter valued at about $307,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of JinkoSolar during the 2nd quarter worth about $298,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co., Ltd. is a solar technology company that manufactures and sells photovoltaic products. Its offerings include solar modules, cells, wafers and silicon ingots, serving customers involved in utility-scale, commercial and residential solar projects. The company operates a vertically integrated manufacturing business, covering several stages of the solar supply chain. Its product portfolio includes high-efficiency modules designed for use in a range of installation types. Founded in 2006 and headquartered in China, JinkoSolar serves markets around the world through international sales and manufacturing operations.