JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Recommendation of “Reduce” by Analysts

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average recommendation of “Reduce” from the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.60.

JKS has been the subject of a number of research analyst reports. Roth Mkm restated a “neutral” rating and issued a $25.00 target price on shares of JinkoSolar in a research note on Tuesday, April 30th. The Goldman Sachs Group reduced their price objective on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, April 11th. Finally, StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd.

JinkoSolar Trading Down 4.4 %

Shares of JKS stock opened at $20.32 on Wednesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 3.17 and a beta of 0.39. JinkoSolar has a 1-year low of $19.93 and a 1-year high of $43.15. The business has a 50-day moving average of $23.66 and a 200 day moving average of $24.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.77.

JinkoSolar (NYSE:JKS) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.83. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.27 billion. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%. As a group, sell-side analysts anticipate that JinkoSolar will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of JKS. Vanguard Group Inc. boosted its stake in shares of JinkoSolar by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares during the last quarter. Vontobel Holding Ltd. lifted its position in JinkoSolar by 1.8% during the fourth quarter. Vontobel Holding Ltd. now owns 326,585 shares of the semiconductor company’s stock valued at $12,064,000 after purchasing an additional 5,800 shares in the last quarter. Signaturefd LLC lifted its position in JinkoSolar by 202.1% during the fourth quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 673 shares in the last quarter. Headlands Technologies LLC lifted its position in JinkoSolar by 217.0% during the fourth quarter. Headlands Technologies LLC now owns 3,199 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 2,190 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in JinkoSolar by 494.1% during the fourth quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock valued at $9,948,000 after purchasing an additional 236,526 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.