Himension Capital Singapore PTE. LTD. Decreases Stake in JinkoSolar Holding Company Limited $JKS

Himension Capital Singapore PTE. LTD. cut its stake in shares of JinkoSolar Holding Company Limited (NYSE:JKS) by 30.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 75,025 shares of the semiconductor company’s stock after selling 32,388 shares during the period. Himension Capital Singapore PTE. LTD.’s holdings in JinkoSolar were worth $1,592,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JKS. MTM Investment Management LLC purchased a new position in JinkoSolar in the second quarter worth approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the 1st quarter valued at $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of JinkoSolar by 502.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 4,562 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 10,941 shares in the last quarter. Finally, Harvest Portfolios Group Inc. purchased a new position in JinkoSolar in the first quarter valued at $269,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $25.50 on Wednesday. The stock has a market cap of $1.32 billion, a P/E ratio of -5.08 and a beta of 0.60. JinkoSolar Holding Company Limited has a twelve month low of $13.42 and a twelve month high of $31.88. The stock has a 50 day moving average of $24.97 and a two-hundred day moving average of $22.91. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.26. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative net margin of 2.23% and a negative return on equity of 2.95%. On average, research analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research note on Wednesday, October 8th. Roth Capital raised their price objective on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 21st. Finally, Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, JinkoSolar presently has an average rating of “Reduce” and a consensus price target of $28.59.

About JinkoSolar

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.