JinkoSolar (NYSE:JKS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts have also recently commented on the company. Roth Mkm upped their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Zacks Research lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group boosted their price objective on JinkoSolar from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday, November 19th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $22.33.

JinkoSolar Price Performance

Shares of JKS opened at $26.57 on Friday. The company’s 50-day moving average is $27.30 and its 200-day moving average is $25.41. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02. The firm has a market capitalization of $1.37 billion, a PE ratio of -2.90 and a beta of 0.52. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $31.88.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.56) by $0.26. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.72 billion. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. Equities analysts forecast that JinkoSolar will post -0.24 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

Several large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of JinkoSolar by 18.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after acquiring an additional 3,608 shares in the last quarter. Geode Capital Management LLC grew its position in JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after purchasing an additional 3,394 shares in the last quarter. MTM Investment Management LLC purchased a new stake in JinkoSolar in the 2nd quarter valued at about $28,000. JPMorgan Chase & Co. lifted its position in shares of JinkoSolar by 7,759.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after buying an additional 10,941 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of JinkoSolar in the 2nd quarter worth approximately $1,160,000. 35.82% of the stock is currently owned by institutional investors.

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.