JinkoSolar (NYSE:JKS) Stock Rating Lowered by Daiwa Capital Markets

JinkoSolar (NYSE:JKS) was downgraded by analysts at Daiwa Capital Markets from an “underperform” rating to a “sell” rating in a research note issued on Friday, MarketBeat Ratings reports.

Several other equities analysts also recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and an average target price of $31.33.

JinkoSolar Stock Performance

Shares of JKS opened at $24.78 on Friday. The business has a 50-day simple moving average of $24.77 and a two-hundred day simple moving average of $22.48. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 42.00 and a beta of 0.30.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Decade Renewable Partners LP bought a new stake in shares of JinkoSolar in the second quarter worth about $4,272,000. Millennium Management LLC grew its holdings in JinkoSolar by 2,305.1% during the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after buying an additional 161,888 shares in the last quarter. Marshall Wace LLP increased its stake in JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after acquiring an additional 148,268 shares during the last quarter. Point72 Europe London LLP purchased a new stake in shares of JinkoSolar during the 2nd quarter worth approximately $3,023,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of JinkoSolar by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after acquiring an additional 74,219 shares during the last quarter. 35.82% of the stock is currently owned by 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.