JinkoSolar (NYSE:JKS) Stock Moved Down to Strong Sell by Wall Street Zen

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

JKS has been the topic of a number of other research reports. Roth Capital reduced their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Zacks Research cut JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a research note on Thursday, August 27th. Freedom Broker downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings reissued 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, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, JinkoSolar presently has an average rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Stock Down 2.7%

NYSE:JKS opened at $8.18 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.13 and a debt-to-equity ratio of 1.10. JinkoSolar has a 12-month low of $7.82 and a 12-month high of $31.88. The stock’s fifty day simple moving average is $11.01 and its 200-day simple moving average is $19.48. The firm has a market capitalization of $434.46 million, a P/E ratio of -0.88 and a beta of 0.52.

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

Institutional Trading of JinkoSolar

Large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its stake in JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after buying an additional 839 shares during the period. Engineers Gate Manager LP bought a new position in JinkoSolar during the second quarter worth about $298,000. Cetera Investment Advisers acquired a new position in JinkoSolar in the first quarter valued at about $307,000. Renaissance Technologies LLC grew its stake in 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 acquiring an additional 40,300 shares during the period. Finally, Himension Capital Singapore PTE. LTD. grew its stake in JinkoSolar by 5.1% in 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 acquiring an additional 3,961 shares during the period. 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.