JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Wall Street Zen

JinkoSolar (NYSE:JKS) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

JKS has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Zacks Research downgraded JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research report on Thursday, August 27th. Roth Capital reduced their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. Finally, Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.88.

JinkoSolar Stock Down 1.0%

NYSE:JKS opened at $8.04 on Friday. The firm has a market capitalization of $426.66 million, a P/E ratio of -0.86 and a beta of 0.52. JinkoSolar has a 1-year low of $7.93 and a 1-year high of $31.88. The company’s fifty day moving average price is $11.75 and its 200-day moving average price is $17.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. As a group, equities research analysts anticipate that JinkoSolar will post -5.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its stake in JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after buying an additional 839 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of JinkoSolar during the second quarter valued at approximately $298,000. Cetera Investment Advisers acquired a new position in shares of JinkoSolar during the first quarter valued at approximately $307,000. Renaissance Technologies LLC raised its holdings in shares of JinkoSolar by 96.2% during the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after acquiring an additional 40,300 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. lifted its position in shares of JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after acquiring an additional 3,961 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.