JinkoSolar (NYSE:JKS) Price Target Cut to $18.00 by Analysts at The Goldman Sachs Group

JinkoSolar (NYSE:JKS) had its price target reduced by The Goldman Sachs Group from $20.00 to $18.00 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on JKS. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. UBS Group lowered their target price on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.19.

JinkoSolar Stock Down 2.0 %

Shares of JKS stock opened at $20.12 on Thursday. JinkoSolar has a one year low of $16.70 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The stock has a fifty day moving average price of $21.78 and a 200 day moving average price of $23.13. The stock has a market cap of $1.07 billion, a P/E ratio of 34.10 and a beta of 0.40.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). The business had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. JinkoSolar’s revenue was down 37.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. Analysts predict that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co bought a new position in shares of JinkoSolar in the fourth quarter worth about $55,000. Barclays PLC raised its position in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in JinkoSolar during the 4th quarter worth $119,000. New York State Common Retirement Fund bought a new position in JinkoSolar in the 4th quarter valued at $132,000. Finally, Jump Financial LLC acquired a new stake in shares of JinkoSolar in the 4th quarter valued at $200,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

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.