JinkoSolar (NYSE:JKS) Stock Rating Lowered by Zacks Research

JinkoSolar (NYSE:JKS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, Zacks reports.

JKS has been the subject of several other research reports. Roth Capital cut their price objective on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. UBS Group raised their target price on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research report on Thursday, August 27th. Finally, Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Performance

Shares of JKS opened at $12.02 on Thursday. The company has a market capitalization of $629.49 million, a PE ratio of -1.29 and a beta of 0.51. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. JinkoSolar has a one year low of $11.95 and a one year high of $31.88. The company’s fifty day moving average price is $15.48 and its 200 day moving average price is $20.48.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. As a group, analysts expect that JinkoSolar will post -5.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Wing Siew sold 16,000 shares of JinkoSolar stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director directly owned 170,000 shares of the company’s stock, valued at $2,803,300. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.80% of the stock is currently owned by company insiders.

Institutional Trading of JinkoSolar

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of JinkoSolar by 355.9% during the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after purchasing an additional 147,992 shares in the last quarter. Renaissance Technologies LLC increased its position 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. Capital Wealth Planning LLC acquired a new position in shares of JinkoSolar in the fourth quarter valued at $3,299,000. Legal & General Group Plc raised its stake in shares of JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after purchasing an additional 494,595 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in JinkoSolar in the fourth quarter worth $209,000. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.