JinkoSolar (NYSE:JKS) Price Target Cut to $5.27 by Analysts at Glj Research

JinkoSolar (NYSE:JKS) had its price target decreased by equities researchers at Glj Research from $12.08 to $5.27 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Glj Research‘s price objective suggests a potential downside of 51.27% from the company’s previous close.

JKS has been the subject of several other reports. Freedom Broker upgraded JinkoSolar from a “hold” rating to a “buy” rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a report on Thursday, August 27th. Roth Capital cut 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, November 2nd. Zacks Research upgraded shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Finally, Wall Street Zen upgraded shares of JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.35.

JinkoSolar Stock Performance

JKS stock opened at $10.81 on Tuesday. JinkoSolar has a 1-year low of $7.82 and a 1-year high of $31.88. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10. The firm has a market cap of $574.28 million, a PE ratio of -1.39 and a beta of 0.39. The business’s 50-day moving average price is $9.83 and its two-hundred day moving average price is $18.55.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, October 30th. The semiconductor company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($2.11) by $2.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.42 billion. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. As a group, research analysts forecast that JinkoSolar will post -4.95 earnings per share for the current year.

Institutional Trading of JinkoSolar

Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers acquired a new position in shares of JinkoSolar during the first quarter worth about $307,000. Engineers Gate Manager LP bought a new position in shares of JinkoSolar during the second quarter worth about $298,000. Aberdeen Group plc bought a new position in shares of JinkoSolar during the third quarter worth about $275,000. Renaissance Technologies LLC raised its position in JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after buying an additional 40,300 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. raised its position in JinkoSolar by 5.1% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after buying an additional 3,961 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.

About JinkoSolar

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.