JinkoSolar Holding Company Limited (NYSE:JKS) Receives $24.38 Average PT from Brokerages

JinkoSolar Holding Company Limited (NYSE:JKS) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.3750.

JKS has been the subject of a number of analyst reports. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Tuesday, March 24th. Weiss Ratings lowered shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. UBS Group upped their target price on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th.

Insider Activity at JinkoSolar

In other JinkoSolar news, Director Xianhua Li sold 1,280,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the transaction, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00. Following the transaction, the director owned 186,000 shares in the company, valued at $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of JinkoSolar in the second quarter worth approximately $47,000. Banque Cantonale Vaudoise purchased a new position in JinkoSolar during the fourth quarter valued at $58,000. Leonteq Securities AG purchased a new position in JinkoSolar during the fourth quarter valued at $101,000. New York State Common Retirement Fund purchased a new position in JinkoSolar during the third quarter valued at $182,000. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of JinkoSolar by 277.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 5,211 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

NYSE JKS opened at $20.17 on Monday. The company has a market cap of $1.06 billion, a PE ratio of -2.07 and a beta of 0.52. JinkoSolar has a 52 week low of $18.22 and a 52 week high of $31.88. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The firm’s 50-day simple moving average is $23.34 and its two-hundred day simple moving average is $25.39.

JinkoSolar (NYSE:JKS) last released 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. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.09 billion. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. Research analysts predict that JinkoSolar will post -2.76 earnings per share for the current year.

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.