JinkoSolar (NYSE:JKS) Rating Lowered to Strong Sell at Zacks Research

JinkoSolar (NYSE:JKS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other equities research analysts also recently commented on JKS. Roth Capital reduced their price target on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. UBS Group raised their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.88.

JinkoSolar Stock Down 1.4%

Shares of JinkoSolar stock opened at $12.02 on Thursday. JinkoSolar has a 12-month low of $11.95 and a 12-month high of $31.88. The firm has a market capitalization of $629.49 million, a PE ratio of -1.29 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The stock’s fifty day moving average is $15.48 and its 200-day moving average is $20.48.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Equities analysts anticipate that JinkoSolar will post -5.63 earnings per share for the current year.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Siew sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the sale, the director owned 170,000 shares of the company’s stock, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.80% of the company’s stock.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its holdings in shares of JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after buying an additional 839 shares during the period. Trexquant Investment LP raised its holdings in JinkoSolar by 2.1% in the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock worth $1,094,000 after acquiring an additional 889 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in JinkoSolar by 7.7% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 1,219 shares during the last quarter. Raymond James Financial Inc. acquired a new position in JinkoSolar during the 2nd quarter worth $47,000. Finally, Daiwa Securities Group Inc. boosted its holdings in JinkoSolar by 18.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 2,700 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Company Profile

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.