JinkoSolar Holding Company Limited (NYSE:JKS) Receives $19.88 Average Target Price from Analysts

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $19.8750.

Several research analysts recently issued reports on the stock. Zacks Research cut shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. UBS Group increased their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Freedom Broker cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th.

JinkoSolar Stock Performance

Shares of JKS opened at $11.50 on Wednesday. The stock has a market capitalization of $602.25 million, a P/E ratio of -1.23 and a beta of 0.51. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. JinkoSolar has a 1 year low of $11.43 and a 1 year high of $31.88. The company’s fifty day moving average is $15.06 and its two-hundred day moving average is $19.97.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%. On average, sell-side analysts predict that JinkoSolar will post -5.63 earnings per share for the current year.

Insider Transactions at JinkoSolar

In other JinkoSolar news, Director Wing Siew sold 16,000 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in shares of JinkoSolar by 355.9% in the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after purchasing an additional 147,992 shares during the period. Renaissance Technologies LLC grew its position in JinkoSolar by 96.2% during the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 40,300 shares during the period. Capital Wealth Planning LLC acquired a new position in JinkoSolar during the fourth quarter worth about $3,299,000. Legal & General Group Plc increased its holdings in JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after buying an additional 494,595 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in JinkoSolar by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 839 shares in the last quarter. 35.82% of the stock is 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.