UBS Group upgraded shares of JinkoSolar (NYSE:JKS – Free Report) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $17.00 price target on the semiconductor company’s stock, down from their prior price target of $24.00.
JKS has been the topic of a number of other reports. Freedom Broker upgraded shares of JinkoSolar from a “hold” rating to a “buy” rating in a research note on Tuesday. Wall Street Zen cut shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 26th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. Roth Capital cut their target price on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Finally, Zacks Research raised shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.62.
JinkoSolar Price Performance
JKS stock traded up $0.70 during midday trading on Friday, reaching $10.99. The company had a trading volume of 1,019,390 shares, compared to its average volume of 735,284. JinkoSolar has a 1-year low of $7.82 and a 1-year high of $31.88. The stock has a 50 day moving average price of $9.89 and a 200-day moving average price of $18.62. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84. The company has a market capitalization of $583.52 million, a price-to-earnings ratio of -1.41 and a beta of 0.39.
JinkoSolar (NYSE:JKS – Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.11) by $2.08. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. Equities research analysts expect that JinkoSolar will post -4.95 earnings per share for the current year.
Institutional Investors Weigh In On JinkoSolar
A number of institutional investors have recently added to or reduced their stakes in JKS. Cetera Investment Advisers bought a new stake in shares of JinkoSolar in the first quarter worth $307,000. Engineers Gate Manager LP bought a new stake in shares of JinkoSolar in the 2nd quarter valued at about $298,000. Aberdeen Group plc bought a new stake in shares of JinkoSolar in the 3rd quarter valued at about $275,000. Renaissance Technologies LLC grew its position in shares of JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after buying an additional 40,300 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. increased its stake 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 buying an additional 3,961 shares during the period. 35.82% of the stock is owned by institutional investors.
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.
Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.
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