JinkoSolar (NYSE:JKS – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Monday, Wall Street Zen reports.
Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research report on Thursday, August 27th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Zacks Research lowered shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Roth Capital reduced 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. Finally, Freedom Broker cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and a consensus price target of $19.88.
Check Out Our Latest Analysis on JKS
JinkoSolar Stock Performance
NYSE JKS opened at $8.34 on Monday. The stock’s 50-day moving average is $10.84 and its two-hundred day 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS 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. On average, equities research analysts expect that JinkoSolar will post -5.63 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new position in shares of JinkoSolar during the second quarter worth approximately $298,000. Renaissance Technologies LLC boosted its position in shares of JinkoSolar by 96.2% in the first 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 acquired a new stake in shares of JinkoSolar in the first quarter worth $307,000. Himension Capital Singapore PTE. LTD. grew its stake in shares of JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after acquiring an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after acquiring an additional 3,118 shares during the last quarter. 35.82% of the stock is owned by 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.
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