Granite Point Capital Management L.P. purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 12,500 shares of the semiconductor company’s stock, valued at approximately $124,000.
Several other institutional investors and hedge funds also recently bought and sold shares of JKS. Quantamental Technologies LLC bought a new stake in JinkoSolar in the 4th quarter worth about $57,000. Wealth Architects LLC bought a new stake in JinkoSolar in the 4th quarter worth about $117,000. Mackenzie Financial Corp bought a new stake in JinkoSolar in the 3rd quarter worth about $165,000. Jane Street Group LLC bought a new stake in JinkoSolar in the 3rd quarter worth about $176,000. Finally, Guinness Atkinson Asset Management Inc increased its holdings in JinkoSolar by 35.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,900 shares of the semiconductor company’s stock worth $290,000 after buying an additional 7,100 shares in the last quarter. 29.26% of the stock is owned by hedge funds and other institutional investors.
JKS has been the subject of several research analyst reports. Zacks Investment Research upgraded JinkoSolar from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, February 6th. Roth Capital upgraded JinkoSolar from a “neutral” rating to a “buy” rating and cut their price target for the company from $20.00 to $11.50 in a research note on Monday, February 4th. Goldman Sachs Group upgraded JinkoSolar from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, February 4th. UBS Group cut their price target on JinkoSolar from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Finally, TheStreet upgraded JinkoSolar from a “d+” rating to a “c” rating in a research note on Thursday, January 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. JinkoSolar has a consensus rating of “Hold” and an average target price of $12.58.
JinkoSolar stock opened at $15.70 on Monday. The stock has a market cap of $447.92 million, a price-to-earnings ratio of 23.09, a PEG ratio of 0.53 and a beta of 2.32. JinkoSolar Holding Co., Ltd. has a 52-week low of $7.11 and a 52-week high of $21.35. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.21.
JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Monday, November 26th. The semiconductor company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.81. The business had revenue of $974.80 million during the quarter, compared to the consensus estimate of $934.65 million. JinkoSolar had a return on equity of 4.07% and a net margin of 1.29%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, sell-side analysts expect that JinkoSolar Holding Co., Ltd. will post 1.11 earnings per share for the current fiscal year.
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JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.
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