JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Zacks Research

JinkoSolar (NYSE:JKS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

JKS has been the subject of several other reports. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research report on Thursday, August 27th. Roth Capital cut their price target on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 27th. Finally, Wall Street Zen lowered shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Price Performance

NYSE:JKS opened at $8.34 on Monday. JinkoSolar has a 52 week low of $7.82 and a 52 week high of $31.88. The firm has a 50 day moving average of $10.84 and a 200 day moving average of $19.38.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Equities research analysts anticipate that JinkoSolar will post -5.63 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC boosted its position in JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after purchasing an additional 147,992 shares in the last quarter. Renaissance Technologies LLC grew its holdings in JinkoSolar by 96.2% in the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of JinkoSolar in the second quarter valued at approximately $298,000. Cetera Investment Advisers purchased a new stake in shares of JinkoSolar in the first quarter valued at approximately $307,000. Finally, Dimensional Fund Advisors LP increased its position 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 in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.