JinkoSolar (NYSE:JKS) Raised to Buy at UBS Group

JinkoSolar (NYSE:JKS) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $17.00 target price on the semiconductor company’s stock, down from their prior target price of $24.00. UBS Group‘s price target points to a potential upside of 54.70% from the company’s previous close.

Several other research analysts have also issued reports on JKS. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research report on Friday, October 30th. Wall Street Zen lowered JinkoSolar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 26th. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a research report on Thursday, August 27th. Freedom Broker raised JinkoSolar from a “hold” rating to a “buy” rating in a research note on Tuesday, November 3rd. Finally, Roth Capital decreased their price objective on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.62.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $10.99 on Friday. JinkoSolar has a 1 year low of $7.82 and a 1 year high of $31.88. The stock has a market capitalization of $583.52 million, a P/E ratio of -1.41 and a beta of 0.39. The company’s 50-day moving average is $9.89 and its 200 day moving average is $18.62. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.42 billion. On average, sell-side analysts expect that JinkoSolar will post -4.95 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of the business. Aberdeen Group plc bought a new position in shares of JinkoSolar during the third quarter valued at approximately $275,000. Engineers Gate Manager LP bought a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $298,000. Renaissance Technologies LLC boosted its position in shares of JinkoSolar by 96.2% in 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 in the last quarter. Cetera Investment Advisers bought a new stake in shares of JinkoSolar in the 1st quarter worth approximately $307,000. Finally, Himension Capital Singapore PTE. LTD. grew its stake in shares of JinkoSolar by 5.1% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,961 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.