JinkoSolar (NYSE:JKS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of JinkoSolar (NYSE:JKS) from a strong sell rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a report on Thursday, August 27th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Zacks Research cut JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Finally, Roth Capital reduced their price target on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.88.

JinkoSolar Stock Up 1.1%

Shares of NYSE:JKS opened at $8.12 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The company has a market cap of $430.91 million, a PE ratio of -0.87 and a beta of 0.52. JinkoSolar has a 52 week low of $7.91 and a 52 week high of $31.88. The firm has a 50 day simple moving average of $11.58 and a 200 day simple moving average of $16.94.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. As a group, research analysts expect that JinkoSolar will post -5.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise increased its stake in JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 839 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after buying an additional 3,118 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted 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 buying an additional 3,961 shares in the last quarter. Cetera Investment Advisers bought a new position in JinkoSolar in the first quarter valued at approximately $307,000. Finally, Engineers Gate Manager LP acquired a new position in shares of JinkoSolar in the second quarter valued at approximately $298,000. 35.82% of the stock is owned by institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company’s product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.