Brokerages Set JinkoSolar Holding Company Limited (NYSE:JKS) Target Price at $22.33

JinkoSolar Holding Company Limited (NYSE:JKS) has received a consensus recommendation of “Reduce” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.3333.

A number of brokerages have recently weighed in on JKS. Roth Mkm raised their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings restated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. Finally, UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th.

JinkoSolar Stock Down 1.2%

NYSE JKS opened at $23.44 on Wednesday. The stock’s 50 day simple moving average is $26.48 and its 200 day simple moving average is $25.84. JinkoSolar has a one year low of $13.42 and a one year high of $31.88. The firm has a market cap of $1.21 billion, a PE ratio of -2.56 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.30 and a quick ratio of 1.02.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Invesco Ltd. boosted its position in JinkoSolar by 15.4% in the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after buying an additional 213,935 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock worth $36,289,000 after acquiring an additional 20,000 shares during the last quarter. State Street Corp raised its position in shares of JinkoSolar by 8.0% during the fourth quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock worth $18,978,000 after acquiring an additional 54,661 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of JinkoSolar by 9,212.1% during the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after acquiring an additional 494,595 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in JinkoSolar by 35.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock valued at $10,691,000 after acquiring an additional 108,744 shares during the last quarter. 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.