JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives $24.60 Average Price Target from Brokerages

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average recommendation of “Reduce” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.60.

A number of equities analysts recently commented on JKS shares. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. The Goldman Sachs Group dropped their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. Finally, Roth Mkm reduced their price objective on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th.

Hedge Funds Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares during the period. Signaturefd LLC boosted its holdings in JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares during the period. Tidal Investments LLC grew its position in shares of JinkoSolar by 4.0% in the first quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock valued at $545,000 after purchasing an additional 825 shares during the last quarter. Profund Advisors LLC increased its stake in shares of JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Trading Up 11.3 %

JinkoSolar stock opened at $24.70 on Tuesday. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $38.37. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.31 billion, a P/E ratio of 40.36 and a beta of 0.44. The company’s fifty day simple moving average is $23.38 and its 200-day simple moving average is $22.35.

JinkoSolar (NYSE:JKS) last issued its earnings results on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. As a group, sell-side analysts forecast that JinkoSolar will post -0.42 EPS for the current fiscal year.

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.