Freedom Broker upgraded shares of JinkoSolar (NYSE:JKS – Free Report) from a hold rating to a buy rating in a research report report published on Tuesday morning, MarketBeat.com reports.
Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday, October 26th. Zacks Research raised shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research note on Thursday, August 27th. Finally, Roth Capital decreased their price objective on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.38.
Get Our Latest Stock Report on JKS
JinkoSolar Trading Down 3.6%
NYSE:JKS opened at $10.27 on Tuesday. The company has a market cap of $545.28 million, a P/E ratio of -1.32 and a beta of 0.39. JinkoSolar has a twelve month low of $7.82 and a twelve month high of $31.88. The business has a 50 day moving average price of $9.94 and a two-hundred day moving average price of $18.69. The company has a quick ratio of 0.84, a current ratio of 1.13 and a debt-to-equity ratio of 1.10.
JinkoSolar (NYSE:JKS – Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.11) by $2.08. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. As a group, analysts expect that JinkoSolar will post -4.95 EPS for the current fiscal year.
Institutional Investors Weigh In On JinkoSolar
Several large investors have recently made changes to their positions in JKS. Dimensional Fund Advisors LP increased its holdings in JinkoSolar by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after buying an additional 3,118 shares during the last quarter. Hsbc Holdings PLC raised its position in JinkoSolar by 355.9% during 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 in the last quarter. Himension Capital Singapore PTE. LTD. raised 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 worth $2,092,000 after acquiring an additional 3,961 shares in the last quarter. Renaissance Technologies LLC lifted its stake in 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 last quarter. Finally, Engineers Gate Manager LP acquired a new stake in JinkoSolar in the second quarter valued at $298,000. Institutional investors and hedge funds own 35.82% of the company’s stock.
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.
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