Harel Insurance Investments & Financial Services Ltd. Trims Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Harel Insurance Investments & Financial Services Ltd. lowered its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,341 shares of the semiconductor company’s stock after selling 1,075 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in JinkoSolar were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in JinkoSolar by 1,240.7% in the 1st quarter. JPMorgan Chase & Co. now owns 100,456 shares of the semiconductor company’s stock worth $4,851,000 after purchasing an additional 92,963 shares during the period. American Century Companies Inc. grew its position in JinkoSolar by 8.0% during the 1st quarter. American Century Companies Inc. now owns 13,426 shares of the semiconductor company’s stock worth $648,000 after acquiring an additional 991 shares during the last quarter. BlackRock Inc. lifted its position in JinkoSolar by 16.2% in the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock valued at $127,123,000 after purchasing an additional 366,251 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of JinkoSolar during the first quarter valued at approximately $221,000. Finally, Allianz Asset Management GmbH increased its position in shares of JinkoSolar by 1.0% in the first quarter. Allianz Asset Management GmbH now owns 1,131,353 shares of the semiconductor company’s stock valued at $54,633,000 after acquiring an additional 11,700 shares during the period. 35.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on JKS. Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. UBS Group reduced their price target on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. StockNews.com downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Roth Mkm reissued a “neutral” rating and issued a $25.00 target price (down previously from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. Finally, Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Stock Performance

Shares of NYSE:JKS opened at $22.78 on Tuesday. The firm has a fifty day simple moving average of $25.68 and a two-hundred day simple moving average of $29.52. JinkoSolar Holding Co., Ltd. has a 52 week low of $22.06 and a 52 week high of $51.35. The company has a quick ratio of 0.81, a current ratio of 1.04 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.20 billion, a P/E ratio of 2.90 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.08 billion. On average, analysts expect that JinkoSolar Holding Co., Ltd. will post 5.27 earnings per share for the current fiscal year.

JinkoSolar Profile

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.