JinkoSolar (NYSE:JKS) Rating Lowered to “Strong Sell” at Wall Street Zen

JinkoSolar (NYSE:JKS) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other brokerages have also issued reports on JKS. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Roth Capital lowered their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a research report on Thursday, August 27th. Finally, Zacks Research downgraded shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average price target of $19.88.

JinkoSolar Stock Performance

Shares of JKS opened at $8.88 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $465.26 million, a price-to-earnings ratio of -0.95 and a beta of 0.52. The stock has a 50 day moving average of $12.71 and a 200 day moving average of $17.78. JinkoSolar has a 12 month low of $8.44 and a 12 month high of $31.88.

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

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its stake in JinkoSolar by 355.9% in the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after purchasing an additional 147,992 shares during the last quarter. Renaissance Technologies LLC increased its position in JinkoSolar by 96.2% in the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 40,300 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in JinkoSolar in the second quarter worth $298,000. Cetera Investment Advisers purchased a new stake in JinkoSolar in the first quarter worth $307,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after buying an additional 3,118 shares during the period. Hedge funds and other 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, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.