JinkoSolar (NYSE:JKS) Given New $10.00 Price Target at Roth Capital

JinkoSolar (NYSE:JKS) had its price target reduced by equities research analysts at Roth Capital from $16.00 to $10.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Roth Capital‘s price target would indicate a potential upside of 8.19% from the company’s current price.

JKS has been the subject of several other research reports. Wall Street Zen lowered shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 26th. Freedom Broker cut JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research report on Friday. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a report on Thursday, August 27th. Finally, Zacks Research raised shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.38.

JinkoSolar Stock Up 7.1%

Shares of NYSE:JKS traded up $0.61 during trading on Monday, reaching $9.24. 529,262 shares of the stock were exchanged, compared to its average volume of 727,159. JinkoSolar has a 1-year low of $7.82 and a 1-year high of $31.88. The firm has a market cap of $490.79 million, a price-to-earnings ratio of -1.19 and a beta of 0.52. The stock has a fifty day moving average of $10.36 and a two-hundred day moving average of $19.08. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84.

JinkoSolar (NYSE:JKS) last posted its earnings results on Friday, October 30th. The semiconductor company reported ($0.03) EPS for the quarter, topping the consensus estimate 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 net margin of 5.04% and a negative return on equity of 8.83%. Research analysts anticipate that JinkoSolar will post -5.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JKS. Hsbc Holdings PLC increased its stake in JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after acquiring an additional 147,992 shares during the last quarter. Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 40,300 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of JinkoSolar in the 2nd quarter worth $298,000. Cetera Investment Advisers bought a new stake in shares of JinkoSolar in the 1st quarter valued at about $307,000. Finally, Himension Capital Singapore PTE. LTD. boosted its stake in 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 acquiring an additional 3,961 shares in the last quarter. 35.82% of the stock is currently 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.