JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Wall Street Zen

JinkoSolar (NYSE:JKS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. UBS Group cut their price target on shares of JinkoSolar from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings raised shares of JinkoSolar from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Daiwa Securities Group raised shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Tuesday, March 24th. Zacks Research cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and a consensus target price of $24.13.

JinkoSolar Price Performance

Shares of NYSE:JKS opened at $24.11 on Friday. The company has a 50 day moving average of $24.24 and a 200 day moving average of $25.66. The stock has a market cap of $1.25 billion, a P/E ratio of -2.47 and a beta of 0.53. JinkoSolar has a 12 month low of $16.80 and a 12 month high of $31.88. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.09 billion.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in JKS. Geode Capital Management LLC lifted its holdings in shares of JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after acquiring an additional 3,394 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 10,941 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $47,000. SG Americas Securities LLC lifted its holdings in shares of JinkoSolar by 63.0% in the 3rd quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock worth $1,610,000 after acquiring an additional 25,903 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of JinkoSolar in the 3rd quarter worth approximately $1,162,000. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.