Wall Street Zen Downgrades JinkoSolar (NYSE:JKS) to Sell

JinkoSolar (NYSE:JKS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other analysts have also commented on JKS. UBS Group reissued a “neutral” rating on shares of JinkoSolar in a research note on Friday, November 28th. Zacks Research upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JinkoSolar in a research report on Wednesday, December 24th. The Goldman Sachs Group boosted their target price on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Finally, Roth Mkm raised their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.33.

JinkoSolar Price Performance

Shares of NYSE JKS traded up $2.34 during midday trading on Friday, reaching $27.80. 1,360,421 shares of the company were exchanged, compared to its average volume of 703,585. The stock’s 50-day moving average price is $26.90 and its 200-day moving average price is $24.99. The stock has a market cap of $1.44 billion, a P/E ratio of -3.04 and a beta of 0.52. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. JinkoSolar has a one year low of $13.42 and a one year high of $31.88.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, beating the consensus estimate of ($2.56) by $0.26. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. On average, sell-side analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of JinkoSolar by 51.3% during the second quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock worth $719,000 after buying an additional 11,500 shares during the period. XTX Topco Ltd acquired a new position in JinkoSolar in the second quarter valued at $1,160,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in JinkoSolar by 18.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock valued at $498,000 after acquiring an additional 3,608 shares during the last quarter. SG Americas Securities LLC grew its holdings in JinkoSolar by 63.0% during the 3rd quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock worth $1,610,000 after acquiring an additional 25,903 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in JinkoSolar during the 2nd quarter worth about $28,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.