abrdn plc Sells 1,248 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

abrdn plc reduced its stake in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,593 shares of the semiconductor company’s stock after selling 1,248 shares during the period. abrdn plc’s holdings in JinkoSolar were worth $835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of JinkoSolar during the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of JinkoSolar by 109.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 1,678 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of JinkoSolar by 16.0% in the third quarter. Van ECK Associates Corp now owns 14,379 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 1,987 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in shares of JinkoSolar by 131.6% during the third quarter. Campbell & CO Investment Adviser LLC now owns 14,764 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 8,390 shares during the last quarter. Finally, Pathstone Family Office LLC increased its position in shares of JinkoSolar by 58.7% during the third quarter. Pathstone Family Office LLC now owns 16,667 shares of the semiconductor company’s stock worth $506,000 after acquiring an additional 6,168 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JKS shares. Daiwa Capital Markets lowered JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Monday, February 5th. Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. UBS Group reduced their target price on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Roth Mkm reissued a “neutral” rating and set a $25.00 price target (down from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. Finally, StockNews.com lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.60.

JinkoSolar Price Performance

JKS opened at $24.75 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.02. The firm has a market cap of $1.30 billion, a P/E ratio of 3.15 and a beta of 0.37. JinkoSolar Holding Co., Ltd. has a fifty-two week low of $21.06 and a fifty-two week high of $50.46. The firm has a 50-day moving average of $24.96 and a 200 day moving average of $29.05.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.08 billion. JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. On average, research analysts expect that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current year.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.