JinkoSolar (NYSE:JKS) Rating Lowered to “Hold” at Freedom Broker

JinkoSolar (NYSE:JKS) was downgraded by equities researchers at Freedom Broker from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

JKS has been the subject of several other reports. UBS Group raised their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Roth Capital reduced their target price on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a report on Thursday. Finally, Wall Street Zen cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Trading Up 0.5%

Shares of JKS opened at $13.58 on Thursday. The stock has a market cap of $711.18 million, a PE ratio of -1.46 and a beta of 0.52. JinkoSolar has a 52-week low of $13.04 and a 52-week high of $31.88. The firm’s fifty day moving average is $15.96 and its two-hundred day moving average is $21.02. 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 released its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%. Research analysts forecast that JinkoSolar will post -2.76 earnings per share for the current fiscal year.

Insider Activity at JinkoSolar

In related news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is owned by company insiders.

Institutional Trading of JinkoSolar

Large investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its stake in JinkoSolar by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 839 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of JinkoSolar by 2.1% during the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock worth $1,094,000 after purchasing an additional 889 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in JinkoSolar by 7.7% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock worth $440,000 after buying an additional 1,219 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar in the second quarter worth approximately $47,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of JinkoSolar by 18.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

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.