StockNews.com Upgrades JinkoSolar (NYSE:JKS) to Hold

StockNews.com upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a hold rating in a research report released on Friday.

Several other research firms have also issued reports on JKS. HSBC restated a hold rating and issued a $30.00 target price on shares of JinkoSolar in a report on Monday, February 5th. UBS Group lowered their target price on shares of JinkoSolar from $31.00 to $30.00 and set a neutral rating for the company in a report on Thursday, March 21st. Roth Capital downgraded shares of JinkoSolar from a buy rating to a neutral rating in a research note on Thursday, March 21st. The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $26.00 to $23.00 and set a sell rating on the stock in a research note on Thursday, April 11th. Finally, Daiwa Capital Markets downgraded shares of JinkoSolar from an outperform rating to a neutral rating and set a $25.00 price target on the stock. in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $26.60.

JinkoSolar Price Performance

JKS stock traded up $0.65 during trading on Friday, hitting $26.18. 588,229 shares of the company’s stock traded hands, compared to its average volume of 928,866. JinkoSolar has a 52 week low of $21.06 and a 52 week high of $48.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 1.03. The business has a fifty day simple moving average of $24.91 and a 200 day simple moving average of $28.92. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 4.08 and a beta of 0.38.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.08 billion. As a group, research analysts expect that JinkoSolar will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in JinkoSolar by 202.1% during the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares during the period. Headlands Technologies LLC bought a new position in shares of JinkoSolar during the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of JinkoSolar by 109.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 1,678 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of JinkoSolar during the 4th quarter worth approximately $126,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of JinkoSolar by 117.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.