JinkoSolar (NYSE:JKS) Downgraded by StockNews.com

JinkoSolar (NYSE:JKS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other brokerages have also recently issued reports on JKS. The Goldman Sachs Group reduced their price objective on JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, April 11th. HSBC reiterated a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research note on Monday, February 5th. Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Daiwa Capital Markets cut JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Monday, February 5th. Finally, UBS Group cut their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.60.

JinkoSolar Trading Down 0.1 %

Shares of JinkoSolar stock opened at $21.67 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.04. The stock has a 50 day moving average of $25.46 and a 200 day moving average of $29.36. JinkoSolar has a fifty-two week low of $21.06 and a fifty-two week high of $50.46. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 2.76 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion. As a group, research analysts predict that JinkoSolar will post 5.27 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of JinkoSolar by 23.6% during the third quarter. Rhumbline Advisers now owns 2,114 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 404 shares during the last quarter. Seaport Global Advisors LLC grew its holdings in shares of JinkoSolar by 33.3% during the fourth quarter. Seaport Global Advisors LLC now owns 1,878 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 469 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of JinkoSolar by 7.6% during the fourth quarter. Advisors Asset Management Inc. now owns 7,251 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 514 shares during the last quarter. Toroso Investments LLC purchased a new position in shares of JinkoSolar during the third quarter worth about $35,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of JinkoSolar by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 24,867 shares of the semiconductor company’s stock worth $755,000 after buying an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects.