JinkoSolar (NYSE:JKS) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other analysts also recently weighed in on JKS. The Goldman Sachs Group lifted their price target on shares of JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday, November 19th. Roth Capital lifted their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research note on Thursday. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus target price of $19.49.

JinkoSolar Stock Up 2.1%

Shares of NYSE:JKS opened at $28.13 on Friday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -3.07 and a beta of 0.49. JinkoSolar has a 12 month low of $13.42 and a 12 month high of $31.88. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $25.57 and a 200 day moving average price of $23.88.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. As a group, equities research analysts predict that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new stake in JinkoSolar in the second quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar in the second quarter valued at approximately $47,000. New York State Common Retirement Fund purchased a new position in JinkoSolar during the 3rd quarter worth $182,000. FNY Investment Advisers LLC purchased a new position in shares of JinkoSolar during the third quarter worth about $225,000. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of JinkoSolar in the 3rd quarter valued at approximately $252,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.