JinkoSolar (NYSE:JKS) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of JinkoSolar (NYSE:JKS) from a strong sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on JKS. UBS Group raised shares of JinkoSolar from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $24.00 to $17.00 in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a report on Friday, October 30th. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a research note on Thursday, August 27th. Roth Capital reduced their price target on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Finally, Zacks Research upgraded 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 assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.62.

JinkoSolar Stock Up 6.8%

JinkoSolar stock opened at $10.99 on Friday. The stock has a market cap of $583.50 million, a PE ratio of -1.41 and a beta of 0.39. 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 stock’s fifty day moving average is $9.89 and its two-hundred day moving average is $18.62. JinkoSolar has a 1-year low of $7.82 and a 1-year high of $31.88.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.42 billion. On average, sell-side analysts expect that JinkoSolar will post -4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently modified their holdings of the business. Aberdeen Group plc bought a new position in shares of JinkoSolar in the third quarter valued at approximately $275,000. Engineers Gate Manager LP bought a new stake in shares of JinkoSolar during the 2nd quarter worth $298,000. Renaissance Technologies LLC boosted its holdings in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 40,300 shares during the period. Cetera Investment Advisers acquired a new position in JinkoSolar in the 1st quarter valued at $307,000. Finally, Himension Capital Singapore PTE. LTD. grew its stake in JinkoSolar by 5.1% in the 1st 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 last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

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.