JinkoSolar (NYSE:JKS) Downgraded by Wall Street Zen to “Strong Sell”

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

Several other analysts have also recently issued reports on JKS. Roth Capital cut their price target on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Freedom Broker lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Zacks Research cut shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Performance

Shares of JKS stock opened at $8.88 on Friday. JinkoSolar has a 12 month low of $8.44 and a 12 month high of $31.88. The firm has a market capitalization of $465.26 million, a P/E ratio of -0.95 and a beta of 0.52. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84. The company’s fifty day moving average price is $12.71 and its two-hundred day moving average price is $17.82.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 10.03%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. On average, research analysts anticipate that JinkoSolar will post -5.63 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Large investors have recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after purchasing an additional 147,992 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of JinkoSolar by 96.2% in the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of JinkoSolar in the second quarter valued at approximately $298,000. Cetera Investment Advisers bought a new stake in shares of JinkoSolar during the first quarter valued at approximately $307,000. Finally, Himension Capital Singapore PTE. LTD. raised its holdings in shares of JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after buying an additional 3,961 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.