Brokerages Set JinkoSolar Holding Company Limited (NYSE:JKS) Price Target at $19.88

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have received an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.8750.

JKS has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. UBS Group upped their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research report on Thursday, August 27th. Finally, Zacks Research downgraded shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd.

Insider Activity at JinkoSolar

In other news, Director Wing Siew sold 16,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total value of $263,840.00. Following the sale, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in JinkoSolar in the second quarter worth $298,000. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 40,300 shares during the period. Cetera Investment Advisers bought a new position in shares of JinkoSolar in the first quarter worth about $307,000. Himension Capital Singapore PTE. LTD. grew its holdings 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 worth $2,092,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after buying an additional 3,118 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

JinkoSolar stock opened at $10.70 on Wednesday. JinkoSolar has a 52-week low of $10.59 and a 52-week high of $31.88. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average is $14.87 and its 200 day moving average is $19.70. The company has a market cap of $560.31 million, a price-to-earnings ratio of -1.15 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%. Sell-side analysts forecast that JinkoSolar will post -5.63 EPS for the current fiscal year.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) product manufacturer. Through its principal operating subsidiary, Jiangxi Jinko, the company develops and produces silicon wafers, solar cells, and PV modules used in utility-scale, commercial, industrial, and residential solar power systems. Its product portfolio includes high-efficiency monocrystalline modules marketed under the Tiger and Tiger Neo product families.

JinkoSolar also provides energy storage products and related system solutions, supporting the integration of renewable power into electricity networks and on-site energy systems.