JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Recommendation of “Reduce” by Analysts

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average recommendation of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.19.

Several equities research analysts recently commented on JKS shares. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. UBS Group dropped their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group raised their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Glj Research reduced their target price on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd.

JinkoSolar Stock Performance

Shares of NYSE:JKS opened at $19.69 on Monday. The business has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $23.20. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $37.36. The stock has a market capitalization of $1.05 billion, a P/E ratio of 33.36 and a beta of 0.40. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the business posted $0.54 EPS. JinkoSolar’s quarterly revenue was down 37.1% on a year-over-year basis. Equities analysts predict that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Trading of JinkoSolar

Several hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co acquired a new position in shares of JinkoSolar during the fourth quarter valued at about $55,000. Barclays PLC boosted its stake in JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in JinkoSolar during the 4th quarter worth approximately $119,000. New York State Common Retirement Fund purchased a new stake in shares of JinkoSolar in the fourth quarter worth approximately $132,000. Finally, Jump Financial LLC bought a new position in shares of JinkoSolar in the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.