JinkoSolar (NYSE:JKS) Stock Rating Lowered by StockNews.com

JinkoSolar (NYSE:JKS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Other equities research analysts also recently issued reports about the stock. Daiwa Capital Markets downgraded shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Monday, February 5th. UBS Group decreased their price objective on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. The Goldman Sachs Group decreased their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Thursday, April 11th. HSBC restated a “hold” rating and issued a $30.00 price objective on shares of JinkoSolar in a research report on Monday, February 5th. Finally, Roth Mkm restated a “neutral” rating and issued a $25.00 price objective (down from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Trading Up 4.5 %

Shares of JinkoSolar stock opened at $24.14 on Thursday. JinkoSolar has a 12-month low of $21.06 and a 12-month high of $50.46. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 3.08 and a beta of 0.37. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $24.99 and its 200-day moving average price is $29.12.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of JinkoSolar by 10.0% during the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after acquiring an additional 150,262 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of JinkoSolar during the third quarter worth approximately $1,726,000. Mackenzie Financial Corp raised its stake in shares of JinkoSolar by 22.6% during the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after acquiring an additional 493,976 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of JinkoSolar by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares during the period. Finally, Aigen Investment Management LP increased its stake in shares of JinkoSolar by 160.4% in the third quarter. Aigen Investment Management LP now owns 39,529 shares of the semiconductor company’s stock worth $1,200,000 after buying an additional 24,351 shares during the period. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company 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.