JinkoSolar Holding Company Limited (NYSE:JKS) Receives $24.38 Consensus Target Price from Brokerages

JinkoSolar Holding Company Limited (NYSE:JKS) has received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.3750.

JKS has been the subject of several research reports. Daiwa Securities Group raised shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Tuesday, March 24th. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group lifted their target price on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings lowered shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th.

Insider Buying and Selling at JinkoSolar

In related news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00. Following the transaction, the director owned 186,000 shares in the company, valued at approximately $4,856,460. The trade was a 7.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the transaction, the director owned 10,349,612 shares in the company, valued at $264,225,594.36. The trade was a 11.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in JinkoSolar in the 2nd quarter worth $47,000. Banque Cantonale Vaudoise acquired a new position in JinkoSolar in the 4th quarter worth $58,000. Leonteq Securities AG acquired a new position in JinkoSolar in the 4th quarter worth $101,000. Federation des caisses Desjardins du Quebec lifted its holdings in JinkoSolar by 277.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after buying an additional 5,211 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in JinkoSolar in the 3rd quarter worth $182,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Stock Up 0.6%

Shares of NYSE JKS opened at $20.17 on Monday. JinkoSolar has a 52-week low of $18.22 and a 52-week high of $31.88. The firm has a fifty day moving average of $23.34 and a 200-day moving average of $25.35. The stock has a market capitalization of $1.06 billion, a PE ratio of -2.07 and a beta of 0.52. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.09 billion. On average, analysts anticipate that JinkoSolar will post -2.76 EPS for the current year.

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.