Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Reduces Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its position in JinkoSolar Holding Co., Ltd. (NYSE:JKSGet Rating) by 15.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,231 shares of the semiconductor company’s stock after selling 1,984 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in JinkoSolar were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. abrdn plc increased its stake in JinkoSolar by 1.5% in the second quarter. abrdn plc now owns 29,998 shares of the semiconductor company’s stock valued at $1,927,000 after purchasing an additional 442 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in JinkoSolar by 11.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,846 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 498 shares during the last quarter. US Bancorp DE lifted its position in JinkoSolar by 25.0% during the 3rd quarter. US Bancorp DE now owns 2,680 shares of the semiconductor company’s stock worth $148,000 after acquiring an additional 536 shares during the period. Selective Wealth Management Inc. purchased a new position in shares of JinkoSolar in the 2nd quarter valued at approximately $55,000. Finally, Vident Investment Advisory LLC raised its stake in shares of JinkoSolar by 9.6% during the first quarter. Vident Investment Advisory LLC now owns 9,283 shares of the semiconductor company’s stock worth $448,000 after purchasing an additional 815 shares during the last quarter.

JinkoSolar Trading Up 2.0 %

Shares of JKS opened at $56.67 on Friday. The firm’s 50-day moving average is $48.87 and its two-hundred day moving average is $54.15. JinkoSolar Holding Co., Ltd. has a twelve month low of $35.41 and a twelve month high of $76.92. The company has a current ratio of 1.09, a quick ratio of 0.77 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2.84 billion, a P/E ratio of -246.38 and a beta of 0.74.

JinkoSolar (NYSE:JKSGet Rating) last released its quarterly earnings data on Friday, October 28th. The semiconductor company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.20). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.44 billion. JinkoSolar had a net margin of 0.25% and a return on equity of 4.59%. On average, research analysts predict that JinkoSolar Holding Co., Ltd. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JKS shares. Roth Capital upgraded shares of JinkoSolar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $70.00 in a research report on Wednesday, January 11th. HSBC assumed coverage on shares of JinkoSolar in a report on Wednesday, September 28th. They set a “buy” rating and a $76.00 price target for the company. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Finally, TheStreet raised JinkoSolar from a “d+” rating to a “c” rating in a research note on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average price target of $58.25.

JinkoSolar Company Profile

(Get Rating)

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; and develops commercial solar power projects.

See Also

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Institutional Ownership by Quarter for JinkoSolar (NYSE:JKS)

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