JinkoSolar Holding Company Limited (NYSE:JKS) Stock Has Consensus Target Price of $19.88 According to Brokerages

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have been given an average rating of “Hold” by the eight research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $18.38.

JKS has been the subject of several analyst reports. Wall Street Zen downgraded JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday, October 26th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. Freedom Broker upgraded JinkoSolar from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research note on Thursday, August 27th. Finally, Roth Capital decreased their target price on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a report on Monday.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of JinkoSolar during the 2nd quarter worth about $298,000. Renaissance Technologies LLC increased its holdings in JinkoSolar by 96.2% in the first 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 last quarter. Cetera Investment Advisers acquired a new position in JinkoSolar in the first quarter worth approximately $307,000. Himension Capital Singapore PTE. LTD. raised its position in JinkoSolar by 5.1% during 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. Finally, Dimensional Fund Advisors LP lifted its stake in JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after acquiring an additional 3,118 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Trading Up 5.1%

JinkoSolar stock opened at $10.68 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The firm has a market cap of $567.04 million, a price-to-earnings ratio of -1.37 and a beta of 0.39. JinkoSolar has a 1 year low of $7.82 and a 1 year high of $31.88. The firm’s 50 day moving average price is $10.01 and its two-hundred day moving average price is $18.79.

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

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.