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 research note published on Monday,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Roth Capital lowered their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note 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, The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and an average target price of $19.88.

JinkoSolar Price Performance

JKS stock opened at $8.24 on Monday. The firm has a market cap of $437.54 million, a P/E ratio of -0.88 and a beta of 0.52. The firm’s fifty day moving average is $10.68 and its 200 day moving average is $19.28. JinkoSolar has a 52 week low of $7.82 and a 52 week high of $31.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13.

JinkoSolar (NYSE:JKS) last posted 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). JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.17 billion. Research analysts predict that JinkoSolar will post -5.63 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in shares of JinkoSolar by 355.9% in the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after acquiring an additional 147,992 shares during the period. Renaissance Technologies LLC raised its holdings in shares of JinkoSolar by 96.2% during the first 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. Engineers Gate Manager LP bought a new position in JinkoSolar during the second quarter valued at approximately $298,000. Cetera Investment Advisers bought a new position in JinkoSolar during the first quarter valued at approximately $307,000. Finally, Himension Capital Singapore PTE. LTD. lifted its position in JinkoSolar by 5.1% during the first 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. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Company Profile

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.