Wall Street Zen Upgrades JinkoSolar (NYSE:JKS) to Hold

JinkoSolar (NYSE:JKS) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. Zacks Research raised JinkoSolar from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. Roth Capital cut their price target on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, November 2nd. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a research report on Thursday, August 27th. UBS Group upgraded shares of JinkoSolar from a “neutral” rating to a “buy” rating and dropped their target price for the company from $24.00 to $17.00 in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Friday, October 30th. 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 two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.62.

JinkoSolar Stock Performance

Shares of JinkoSolar stock opened at $10.99 on Friday. The business has a 50-day moving average price of $9.89 and a two-hundred day moving average price of $18.62. 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 company has a market cap of $583.52 million, a P/E ratio of -1.41 and a beta of 0.39.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew 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 acquiring an additional 3,118 shares during the period. Hsbc Holdings PLC increased its holdings 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 valued at $4,817,000 after acquiring an additional 147,992 shares in the last quarter. Himension Capital Singapore PTE. LTD. raised its position in shares of JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after purchasing an additional 3,961 shares during the period. Renaissance Technologies LLC raised its position in shares of JinkoSolar by 96.2% during 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 period. Finally, Aberdeen Group plc acquired a new position in shares of JinkoSolar during the third quarter worth approximately $275,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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.