AI Squared Management Ltd Takes $2.34 Million Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

AI Squared Management Ltd purchased a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 93,800 shares of the semiconductor company's stock, valued at approximately $2,336,000. JinkoSolar accounts for about 2.4% of AI Squared Management Ltd's investment portfolio, making the stock its 13th largest position. AI Squared Management Ltd owned about 0.18% of JinkoSolar at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC grew its holdings in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 537 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of JinkoSolar in the fourth quarter worth about $119,000. New York State Common Retirement Fund purchased a new position in JinkoSolar during the 4th quarter valued at about $132,000. Daiwa Securities Group Inc. raised its position in JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company's stock valued at $236,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in JinkoSolar in the 4th quarter worth approximately $231,000. Institutional investors own 35.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Glj Research reduced their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday. UBS Group reduced their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Daiwa Capital Markets lowered shares of JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $27.19.

Remove Ads

JinkoSolar Stock Down 2.1 %

Shares of JKS traded down $0.42 on Friday, hitting $19.69. 829,385 shares of the stock traded hands, compared to its average volume of 1,039,590. The company has a market capitalization of $1.05 billion, a PE ratio of 33.36 and a beta of 0.40. JinkoSolar Holding Co., Ltd. has a one year low of $16.70 and a one year high of $37.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The business has a 50 day simple moving average of $21.74 and a 200 day simple moving average of $23.17.

JinkoSolar (NYSE:JKS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The business had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. JinkoSolar's quarterly revenue was down 37.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

JinkoSolar 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.