Wall Street Zen Upgrades JinkoSolar (NYSE:JKS) to “Hold”

JinkoSolar (NYSE:JKS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts have also issued reports about the company. Roth Capital raised their target price on JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 21st. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. The Goldman Sachs Group upped their target price on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a report on Wednesday, December 24th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JinkoSolar currently has a consensus rating of “Reduce” and a consensus price target of $19.49.

JinkoSolar Price Performance

Shares of JKS opened at $27.19 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.02 and a current ratio of 1.30. The firm has a market cap of $1.40 billion, a PE ratio of -2.97 and a beta of 0.52. JinkoSolar has a twelve month low of $13.42 and a twelve month high of $31.88. The firm’s 50 day moving average price is $26.75 and its 200 day moving average price is $24.63.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, topping the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.72 billion. As a group, research analysts expect that JinkoSolar will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of JinkoSolar by 189.9% in the fourth quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock worth $5,013,000 after acquiring an additional 127,234 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of JinkoSolar by 41.2% in the first quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock valued at $7,220,000 after purchasing an additional 113,187 shares in the last quarter. Progeny 3 Inc. bought a new position in JinkoSolar in the 3rd quarter worth approximately $2,341,000. Invesco Ltd. lifted its holdings in JinkoSolar by 6.7% during the 3rd quarter. Invesco Ltd. now owns 1,390,315 shares of the semiconductor company’s stock worth $33,409,000 after buying an additional 87,334 shares in the last quarter. Finally, Millennium Management LLC bought a new position in JinkoSolar in the 3rd quarter valued at $1,765,000. 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.