The Goldman Sachs Group Has Lowered Expectations for JinkoSolar (NYSE:JKS) Stock Price

JinkoSolar (NYSE:JKS) had its target price cut by research analysts at The Goldman Sachs Group from $20.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 10.65% from the company’s previous close.

Other research analysts also recently issued research reports about the company. UBS Group reduced their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and a consensus target price of $27.19.

JinkoSolar Trading Down 1.9 %

JKS traded down $0.39 during midday trading on Thursday, hitting $20.15. 362,746 shares of the company were exchanged, compared to its average volume of 1,018,694. The firm has a market capitalization of $1.07 billion, a P/E ratio of 34.18 and a beta of 0.40. The firm’s 50 day moving average price is $21.85 and its 200-day moving average price is $23.15. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $37.36.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in JKS. Pictet Asset Management Holding SA bought a new stake in shares of JinkoSolar during the 4th quarter valued at about $5,948,000. Balyasny Asset Management L.P. lifted its stake in JinkoSolar by 1,592.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after acquiring an additional 121,740 shares during the period. Millennium Management LLC bought a new position in shares of JinkoSolar in the 4th quarter worth approximately $2,846,000. AI Squared Management Ltd bought a new position in JinkoSolar in the 4th quarter worth $2,336,000. Finally, State Street Corp raised its stake in JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after acquiring an additional 67,223 shares during the period. 35.82% of the stock is currently owned by institutional investors.

About JinkoSolar

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.