JinkoSolar Holding Co., Ltd. (NYSE:JKS) Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 11.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,588,308 shares of the semiconductor company’s stock after selling 319,369 shares during the period. Mackenzie Financial Corp’s holdings in JinkoSolar were worth $64,449,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in shares of JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares in the last quarter. CoreCommodity Management LLC lifted its position in JinkoSolar by 1.1% in the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after buying an additional 640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after buying an additional 1,028 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in JinkoSolar in the 4th quarter worth approximately $55,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after buying an additional 3,998 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

NYSE JKS opened at $18.32 on Friday. JinkoSolar Holding Co., Ltd. has a fifty-two week low of $13.42 and a fifty-two week high of $37.36. The stock’s 50-day moving average is $17.98 and its two-hundred day moving average is $21.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a market cap of $941.43 million, a P/E ratio of 31.06 and a beta of 0.16.

JinkoSolar (NYSE:JKS) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business earned $1.34 earnings per share. JinkoSolar’s quarterly revenue was down 39.9% on a year-over-year basis. On average, analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JKS shares. Citigroup lowered JinkoSolar from a “buy” rating to a “sell” rating in a report on Monday, May 5th. The Goldman Sachs Group cut their price target on JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Finally, UBS Group cut their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.19.

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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.