JinkoSolar Holding Co. (JKS) Upgraded to Hold at Zacks Investment Research
JinkoSolar Holding Co. (NYSE:JKS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Several other equities analysts also recently commented on JKS. Roth Capital reissued a “neutral” rating and set a $18.00 target price on shares of JinkoSolar Holding in a research report on Friday, August 26th. Morgan Stanley set a $27.20 price target on shares of JinkoSolar Holding and gave the company a “buy” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. upgraded shares of JinkoSolar Holding from a “neutral” rating to an “overweight” rating in a report on Thursday, June 9th. Finally, Credit Suisse Group AG decreased their price target on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. JinkoSolar Holding presently has an average rating of “Buy” and an average target price of $29.28.
JinkoSolar Holding (NYSE:JKS) opened at 15.33 on Wednesday. The stock’s 50 day moving average price is $17.41 and its 200 day moving average price is $19.71. The company has a market capitalization of $482.76 million, a price-to-earnings ratio of 2.90 and a beta of 3.36. JinkoSolar Holding has a 12-month low of $14.32 and a 12-month high of $29.50.
A number of large investors have recently added to or reduced their stakes in the stock. Societe Generale purchased a new stake in JinkoSolar Holding during the second quarter worth about $289,000. Commerzbank Aktiengesellschaft FI boosted its stake in JinkoSolar Holding by 84.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 261,069 shares of the company’s stock worth $5,321,000 after buying an additional 119,771 shares during the period. Bank of New York Mellon Corp boosted its stake in JinkoSolar Holding by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 10,972 shares of the company’s stock worth $224,000 after buying an additional 562 shares during the period. Capital Fund Management S.A. purchased a new stake in JinkoSolar Holding during the second quarter worth about $382,000. Finally, Bank of Montreal Can purchased a new stake in JinkoSolar Holding during the second quarter worth about $132,000. Institutional investors own 19.67% of the company’s stock.
About JinkoSolar Holding
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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