The Goldman Sachs Group Cuts JinkoSolar (NYSE:JKS) Price Target to $18.00

JinkoSolar (NYSE:JKS) had its target price reduced by The Goldman Sachs Group from $20.00 to $18.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on the stock. UBS Group decreased their target price on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Jefferies Financial Group increased their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Down 2.1 %

JKS stock opened at $19.69 on Thursday. The business has a 50 day moving average of $21.74 and a 200 day moving average of $23.17. The firm has a market cap of $1.05 billion, a PE ratio of 33.36 and a beta of 0.40. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $37.36. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The company had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. JinkoSolar’s revenue was down 37.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, research analysts forecast that JinkoSolar will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Daiwa Securities Group Inc. boosted its stake in shares of JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during the last quarter. Verition Fund Management LLC bought a new position in JinkoSolar in the third quarter valued at about $682,000. State Street Corp boosted its position in JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of JinkoSolar during the 3rd quarter valued at about $928,000. Finally, Barclays PLC increased its position in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.