JinkoSolar (NYSE:JKS) Price Target Raised to $20.00 at The Goldman Sachs Group

JinkoSolar (NYSE:JKS) had its target price increased by investment analysts at The Goldman Sachs Group from $18.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 30.31% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research note on Wednesday, October 8th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, JinkoSolar has a consensus rating of “Strong Sell” and an average price target of $29.49.

JinkoSolar Stock Down 6.2%

JKS opened at $28.70 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -5.72 and a beta of 0.60. JinkoSolar has a one year low of $13.42 and a one year high of $31.88. The business’s fifty day moving average is $24.91 and its two-hundred day moving average is $22.64.

Institutional Trading of JinkoSolar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of JinkoSolar by 15.3% during the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company’s stock worth $26,439,000 after purchasing an additional 187,930 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its position in JinkoSolar by 37.0% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company’s stock worth $14,557,000 after buying an additional 211,000 shares during the period. Acadian Asset Management LLC boosted its stake in JinkoSolar by 41.2% in the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock worth $7,220,000 after buying an additional 113,187 shares during the last quarter. Hsbc Holdings PLC grew its holdings in JinkoSolar by 23.1% in the 1st quarter. Hsbc Holdings PLC now owns 126,175 shares of the semiconductor company’s stock valued at $2,351,000 after buying an additional 23,652 shares during the period. Finally, Progeny 3 Inc. acquired a new position in shares of JinkoSolar during the 3rd quarter valued at about $2,341,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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.