JinkoSolar (NYSE:JKS) Stock Bumped Up to Sell by Wall Street Zen

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

Several other brokerages also recently weighed in on JKS. Roth Capital cut their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Zacks Research cut JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Freedom Broker cut 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 JinkoSolar in a research report on Thursday, August 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.88.

JinkoSolar Stock Down 0.0%

JinkoSolar stock opened at $8.12 on Friday. The firm has a market capitalization of $431.01 million, a P/E ratio of -0.87 and a beta of 0.52. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10. JinkoSolar has a twelve month low of $8.04 and a twelve month high of $31.88. The stock’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $17.18.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 10.03%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. As a group, equities analysts expect that JinkoSolar will post -5.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after buying an additional 3,118 shares during the last quarter. Hsbc Holdings PLC lifted its holdings 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 buying an additional 147,992 shares during the last quarter. Himension Capital Singapore PTE. LTD. lifted its holdings in JinkoSolar by 5.1% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,961 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 40,300 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of JinkoSolar during the 1st quarter worth about $307,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.