JinkoSolar (NYSE:JKS) Downgraded by Freedom Broker to “Hold”

JinkoSolar (NYSE:JKS) was downgraded by analysts at Freedom Broker from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Roth Capital reduced their price target on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday. UBS Group boosted their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Trading Up 0.5%

Shares of JKS stock opened at $13.58 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $15.96 and its two-hundred day moving average is $21.02. The company has a market cap of $711.18 million, a PE ratio of -1.46 and a beta of 0.52. JinkoSolar has a 12 month low of $13.04 and a 12 month high of $31.88.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.17 billion. Equities analysts predict that JinkoSolar will post -2.76 EPS for the current year.

Insider Activity

In related news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total value of $263,840.00. Following the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Raymond James Financial Inc. acquired a new position in JinkoSolar during the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar in the fourth quarter valued at $58,000. Leonteq Securities AG bought a new position in shares of JinkoSolar in the fourth quarter valued at about $101,000. Federation des caisses Desjardins du Quebec raised its position in shares of JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 5,211 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of JinkoSolar during the 4th quarter worth about $209,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

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.