JinkoSolar (NYSE:JKS) Price Target Cut to $22.00 by Analysts at UBS Group

JinkoSolar (NYSE:JKS) had its target price cut by UBS Group from $25.00 to $22.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on the company. Glj Research decreased their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group raised their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Trading Down 2.0 %

Shares of JKS stock opened at $20.12 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.07 billion, a P/E ratio of 34.10 and a beta of 0.40. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $37.36. The stock’s fifty day simple moving average is $21.78 and its 200 day simple moving average is $23.13.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company earned $0.54 EPS. The business’s quarterly revenue was down 37.1% compared to the same quarter last year. As a group, sell-side analysts predict that JinkoSolar will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co acquired a new position in shares of JinkoSolar during the 4th quarter valued at $55,000. Barclays PLC raised its holdings in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of JinkoSolar during the 4th quarter worth about $119,000. New York State Common Retirement Fund acquired a new stake in shares of JinkoSolar in the 4th quarter valued at about $132,000. Finally, Jump Financial LLC bought a new stake in JinkoSolar in the 4th quarter valued at about $200,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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.