JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Zacks Research

JinkoSolar (NYSE:JKS) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

JKS has been the topic of several other reports. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a report on Thursday, August 27th. Wall Street Zen cut JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday. Roth Capital dropped their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Performance

Shares of JKS stock opened at $8.34 on Monday. The company’s 50-day simple moving average is $10.84 and its two-hundred day simple moving average is $19.38. JinkoSolar has a one year low of $7.82 and a one year high of $31.88.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion. On average, analysts anticipate that JinkoSolar will post -5.63 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC raised its position in shares of JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after acquiring an additional 147,992 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of JinkoSolar during the 2nd quarter worth $298,000. Cetera Investment Advisers bought a new stake in JinkoSolar during the first quarter valued at about $307,000. Finally, Dimensional Fund Advisors LP boosted its position in JinkoSolar by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after purchasing an additional 3,118 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.