JinkoSolar (NYSE:JKS) Stock Moved Up to Buy by UBS Group

JinkoSolar (NYSE:JKS) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Friday, Briefing.com reports. The firm presently has a $17.00 target price on the semiconductor company’s stock. UBS Group‘s price target points to a potential upside of 65.55% from the stock’s previous close.

Several other brokerages have also issued reports on JKS. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a research note on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a report on Friday, October 30th. Freedom Broker raised shares of JinkoSolar from a “hold” rating to a “buy” rating in a research note on Tuesday. Roth Capital dropped their price objective on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Zacks Research raised shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average target price of $16.62.

JinkoSolar Trading Down 3.6%

NYSE JKS opened at $10.27 on Friday. The business has a 50 day simple moving average of $9.94 and a 200 day simple moving average of $18.69. JinkoSolar has a one year low of $7.82 and a one year high of $31.88. The stock has a market capitalization of $545.28 million, a P/E ratio of -1.32 and a beta of 0.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.11) by $2.08. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.42 billion. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. Research analysts expect that JinkoSolar will post -4.95 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in JinkoSolar during the 1st quarter valued at $307,000. Engineers Gate Manager LP bought a new position in shares of JinkoSolar in the second quarter valued at $298,000. Renaissance Technologies LLC lifted its stake in shares of 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 buying an additional 40,300 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted its stake in shares of JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after buying an additional 3,961 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after buying an additional 147,992 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

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.