JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Freedom Broker

JinkoSolar (NYSE:JKS) was upgraded by Freedom Broker from a “hold” rating to a “buy” rating in a report issued on Tuesday, Benzinga reports.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of JinkoSolar from a “sell” rating to a “strong sell” rating in a report on Monday, October 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research note on Friday. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a report on Thursday, August 27th. Zacks Research upgraded shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Finally, Roth Capital decreased their price target on shares of JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.38.

JinkoSolar Price Performance

Shares of NYSE:JKS traded up $0.55 during trading on Tuesday, hitting $9.96. 758,076 shares of the company’s stock were exchanged, compared to its average volume of 729,684. 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 has a 52-week low of $7.82 and a 52-week high of $31.88. The business’s 50-day simple moving average is $10.23 and its 200 day simple moving average is $18.98. The company has a market cap of $528.61 million, a price-to-earnings ratio of -1.28 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last issued its earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. As a group, equities analysts predict that JinkoSolar will post -5.63 EPS for the current year.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC lifted its position in shares of 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 purchasing an additional 147,992 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 40,300 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of JinkoSolar in the second quarter worth about $298,000. Cetera Investment Advisers purchased a new position in JinkoSolar in the 1st quarter worth about $307,000. 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 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.