JinkoSolar Holding Company Limited (NYSE:JKS) Receives Average Rating of “Strong Sell” from Analysts

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have been assigned an average recommendation of “Strong Sell” from the seven brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.9875.

JKS has been the topic of several research reports. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. The Goldman Sachs Group increased their target price on shares of JinkoSolar from $15.00 to $18.00 and gave the stock a “sell” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Wednesday, October 8th.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently made changes to their positions in the stock. Progeny 3 Inc. bought a new stake in shares of JinkoSolar in the 3rd quarter worth approximately $2,341,000. Millennium Management LLC bought a new stake in JinkoSolar in the third quarter valued at $1,765,000. Man Group plc bought a new stake in JinkoSolar in the third quarter valued at $329,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of JinkoSolar during the third quarter valued at $512,000. Finally, Two Sigma Investments LP bought a new position in shares of JinkoSolar during the third quarter worth about $384,000. 35.82% of the stock is owned by institutional investors.

JinkoSolar Stock Up 12.8%

Shares of JinkoSolar stock opened at $30.50 on Thursday. The business has a 50-day moving average price of $24.83 and a 200 day moving average price of $22.57. JinkoSolar has a fifty-two week low of $13.42 and a fifty-two week high of $31.88. The firm has a market cap of $1.58 billion, a P/E ratio of -6.08 and a beta of 0.60. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11.

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.