JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives Consensus Recommendation of “Reduce” from Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.60.

Several analysts have weighed in on JKS shares. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. Finally, Roth Mkm decreased their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th.

JinkoSolar Price Performance

Shares of JinkoSolar stock opened at $28.16 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 47.73 and a beta of 0.44. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.65. The firm’s 50-day moving average price is $21.97 and its two-hundred day moving average price is $22.63.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. On average, equities analysts predict that JinkoSolar will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in JinkoSolar by 108.0% in the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares during the last quarter. Headlands Technologies LLC boosted its stake in JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 3,476 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 117.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 4,100 shares during the last quarter. Banco BTG Pactual S.A. bought a new position in JinkoSolar in the first quarter valued at approximately $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in JinkoSolar by 43.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 3,521 shares during the last quarter. 35.82% of the stock is owned by institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.